Intesa Sanpaolo and Unicredit, how much Messina and Orcel earn. Numbers and comparisons
What emerges from the documents of Intesa Sanpaolo and Unicredit on the salaries of company heads Carlo Messina and Andrea Orcel.
The Stock Exchange does not rejoice in the salary of Intesa Sanpaolo's number one, Carlo Messina.
Among other things, this is what emerges from the Intesa Sanpaolo report on the remuneration policy and the compensation paid, a report published in view of the shareholders' meeting on 28 April.
THE REMUNERATION OF CARLO MESSINA (INTESA SANPAOLO)
In 2022, the CEO of Intesa Sanpaolo, Carlo Messina, received a fee of 3.647 million, between the fixed component (2.62) and the annual bonus component (1.027). The fixed component has not changed since 2016 and will remain unchanged for 2023. Added to this is the share component received, amounting to 1.299 million, from previous incentive programmes. In total, the manager thus received a fee of 4.946 million.
WHAT WE READ IN THE INTESA SANPAOLO REPORT ON THE REMUNERATION OF CARLO MESSINA
From what emerges from the remuneration report, Messina, as well as the key personnel of the group, were not awarded any bonus in the long-term incentive plan linked to the 2018-2021 business plan. The reason is linked to the fact that, despite the fact that the performance objectives were fully achieved, the Intesa Sanpaolo share did not reach the minimum value defined on the Stock Exchange at the time of assignment (in the pre-Covid era) as an essential condition for the payment of the bonuses .
THE SALARY OF ANDREA ORCEL (UNICREDIT)
The amounts for the head of the Unicredit company, Andrea Orcel, are much higher. Not only the 2022 budget: the Unicredit shareholders who will meet in the assembly on March 31 will also have the task of voting on the remuneration policy, in which the increase in the remuneration of the chief executive officer stands out. Orcel. For the Roman banker, therefore, the possibility of increasing both the fixed remuneration and the variable part, paid in shares, but only if he manages to exceed very stringent targets. For a total that could reach 9.75 million a year.
Unicredit, here's who approves and who criticizes Orcel's big salary. The in-depth analysis of Start Magazine
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/intesa-sanpaolo-e-unicredit-quanto-guadagnano-messina-e-orcel-numeri-e-confronti/ on Tue, 28 Mar 2023 06:41:32 +0000.