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TotalEnergies CEO Patrick Pouyanné bags €3.9 million pay package

The chairman of French energy major TotalEnergies Pouyanné, will take home more than €3.9 million following a bumper year for the supermajor

TotalEnergies CEO Patrick Pouyanné bags €3.9 million pay package

Paris, March 28 - Neftegaz.RU. Pouyanné’s package of €3,971,329 includes a €1.4 million salary for fiscal 2021, as well as a performance-related bonus of over €2.5 million and other in-kind benefits, EnergyVoice analysed.
The bonus amounts to 179% of base salary, just shy of the scheme’s 180% cap.

Pouyanné was also granted 90,000 shares, worth €1,972,800, again in relation to company performance targets.
The 2021 award is around 20% up on the previous year’s total of just over €3.2 million.

In total, his compensation is around 59 times that of the median TotalEnergies employee, according to company filings.

TotalEnergies reported net income of $16 billion last year on the back of surging commodity prices, reversing poor performance in 2020 in the wake of the coronavirus pandemic.

Pouyanné’s remuneration sits slightly below that of his supermajor counterparts, with Shell CEO Ben van Beurden awarded a £6.1 m payday following «impressive financial performance», while BP boss Bernard Looney netted £4.5 m.

TotalEnergies’ board approved a pay increase for fiscal 2022 which will see Pouyanné’s salary rise to €1.55 million this year, while his share award will also rise to 100,000 shares.
The company said in its annual report:
  • This compensation had been remained unchanged since 2016 and this increase corresponds to an annual average increase in approximately 1.7% compared to an average increase for employees above 2% over the same period
Notably, between May and December 2020, his salary was also reduced by 25% as a result of the coronavirus pandemic and the corresponding impact on commodity prices.

Source : Neftegaz.RU

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