Tuesday, April 03, 2007
Bloomberg.com: Germany
Bloomberg.com: Germany: "The seven-member board, including Chief Executive Officer Henning Kagermann, received 20.8 million euros ($28 million) in total compensation, down from 29.7 million euros in 2005, Walldorf, Germany-based SAP said in its annual report posted on its Web site today.
SAP last year created a plan to hand 300 million euros in cash to a group of high-ranked employees if the company's market value has doubled in 2010 from about 45 billion euros. SAP is relying more on performance-based compensation than fixed salaries to reward its workers and was one of the first German companies to offer stock option plans for all employees.
The company pays an annual bonus, the amount of which depends on whether SAP meets certain undisclosed financial targets for the year. SAP was named best employer in Germany among companies with more than 5,000 workers for two consecutive years by Capital magazine.
The company last year increased net income by 25 percent to a record 1.87 billion euros. CEO Kagermann, 59, received 4.35 million euros in fixed and variable pay in 2006, from 6.1 million euros a year earlier. Under the 2010 plan, Kagermann will receive an additional 4.7 million in bonuses. "
SAP last year created a plan to hand 300 million euros in cash to a group of high-ranked employees if the company's market value has doubled in 2010 from about 45 billion euros. SAP is relying more on performance-based compensation than fixed salaries to reward its workers and was one of the first German companies to offer stock option plans for all employees.
The company pays an annual bonus, the amount of which depends on whether SAP meets certain undisclosed financial targets for the year. SAP was named best employer in Germany among companies with more than 5,000 workers for two consecutive years by Capital magazine.
The company last year increased net income by 25 percent to a record 1.87 billion euros. CEO Kagermann, 59, received 4.35 million euros in fixed and variable pay in 2006, from 6.1 million euros a year earlier. Under the 2010 plan, Kagermann will receive an additional 4.7 million in bonuses. "
