In a landmark move, two CEOs of listed companies in our country earned more than 10 million euros annually for the first time. Ilham Kadri of Solvay and Tim Van Hauwermeiren of Argenx were the first to achieve this milestone. Kadri was the highest-paid CEO in 2023 among the 20 most important listed companies in our country, with an exceptional bonus of 12 million euros that contributed to her total package of 17.3 million euros, which included a regular remuneration of 5.3 million euros.
On the other hand, Van Hauwermeiren also crossed the 10 million euro mark, earning a total package of 10.75 million euros that included a fixed salary of 590,000 euros, a cash bonus of 553,000 euros, and stock options worth 7.6 million euros. The average remuneration of Belgium’s top CEOs was boosted to 3.29 million euros in 2023, up from the previous year’s average remuneration of around 2.69 million euros. This significant increase was mainly due to Kadri’s exceptional bonus, which accounted for around one-third of her total package.
These earnings highlight the significant disparity between executive compensation and average salaries in our country. The achievements of Kadri and Van Hauwermeiren underscored the lucrative nature of CEO positions in listed companies and raised questions about income inequality.
As the gap between executive pay and average salaries continues to widen, it underscores the need for greater scrutiny and transparency in setting executive compensation packages. It is crucial that companies provide more information about their decision-making processes when it comes to executive compensation packages so that stakeholders can better understand how these decisions are made.
Furthermore, there is a growing trend towards greater pay equity between executives and employees across industries worldwide. In some countries, governments have introduced legislation aimed at reducing income inequality by regulating executive compensation practices.
In conclusion, while Kadri and Van Hauwermeiren’s achievements are impressive, they also highlight the need for greater transparency and scrutiny when it comes to executive compensation practices in our country.
Overall, while these earnings are impressive on their own merits
