The big bosses French do not know the crisis. Their compensation has risen by 10 % in 2017, and has even increased 14 % for the only bosses of the CAC 40, the flagship index of the 40 values the stars of the Paris stock Exchange, has revealed a study published on Wednesday by the law firm Proxinvest. The average pay of company bosses of the SBF 120 index (which groups together the 120 largest companies in the rating of paris) has “reached the record amount of 3.8 million euros” last year, an increase of 10 %, was estimated to Proxinvest, a firm specializing in the analysis of governance and voting policy.
For the CEOS of the CAC 40, the increase has been stronger, their average compensation total up to 5.1 million euros (+ 14 %) in 2017, said the study. For Proxinvest, a consulting firm for investors, which sets the “maximum remuneration socially acceptable” to 240 times the minimum wage (4,87 million euros), 29 CEO, the flagship index of the Paris stock Exchange now exceeds this limit, compared to 23 in 2016.
Bernard Charlès president and head of the ranking
The cabinet has denounced ” a lack of justification of the magnitude of the increases of 14 % in 2017 and by 22% over the period 2013-2017 for the CAC 40, both vis-à-vis the outperformance shareholder for shareholders vis-à-vis the evolution of the average compensation of their own employees “.
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The boss of Dassault systèmes, Bernard Charlès, is at the top of this ranking with a total compensation estimated at 24.6 million thanks to a very generous allocation of free performance shares “, says the firm. According to this classification, the second place went to Gilles Gobin, owner of Ruby, a French group of storage and distribution of hydrocarbons, with 21.1 million euros and the third in the patron of the alliance Renault-Nissan-Mitsubishi, Carlos Ghosn, to 13 million.
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