Mercedes boss almost doubles 2023 remuneration thanks to big bonus
Mercedes-Benz boss Ola Källenius nearly doubled his remuneration in 2023 thanks to a high long-term bonus payout, a company report said on Friday.
Excluding pension expenses, his total remuneration last year was €12.2 million ($13.2 million), which is around 86% higher than in the same period the previous year. In 2022, he earned around €6.6 million.
According to a spokesperson for the Stuttgart-based German car company, Källenius intends to donate part of his salary to charitable organizations.
The remuneration was essentially divided into a fixed component of €1.9 million and a variable component of €10.4 million. The variable pay is mostly dependent on hitting certain targets. Since last year, this has included sustainability criteria.
The jump is due to the fact that the car manufacturer now pays out the annual bonus of its top managers in full - and not in stages as was previously the case.
Mercedes generated a turnover of €153.2 billion last year - 2% more than in the previous year - even as the company felt the effects of increased costs due to inflation and disruptions in the supply chain.
Consolidated operating profit fell by around 4% to €19.7 billion.
