Supervisory Boards

No Bonus, But Top Pay

Geschäftsmann bietet Schmiergeld an, businessman offering bribe money
Picture source: DPA

Manfred Bischoff, Daimler’s supervisory board chairman, caused quite a stir at the automaker’s general meeting last month, when he anounced that the non-executive board had treated itself to another raise.

That means Mr. Bischoff will receive €535,000 ($567,000) for the current business year, compared to €449,000 in 2016. That’s a raise of €86,000, well above what many Daimler employees make in a year.

Despite some audible grumbling, a broad majority of shareholders ultimately approved the pay raise, moving Daimler further up the rankings of the best paid supervisors in Germany, where non-executive boards are responsible for hiring and firing chief executives and reviewing corporate strategy.

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