In the year 2024, this business leader is projected to rake in an astounding 18.9 million euros as remuneration.
Last year, SAP managers celebrated a string of achievements. Revenue soared, and the tech titan's stock price skyrocketed. Unsurprisingly, the rewards for the DAX company's board membranes were nothing short of opulent.
SAP's CEO, Christian Klein, pocketed a substantial sum from the software group's success in 2024. His earnings climbed to a whopping 18.8 million euros, a staggering 2.6 times increase from the 7.2 million euros he made in 2023, placing him among Germany's top-earning leaders in the DAX list.
The board's remuneration package is a blend of a fixed salary and short- and long-term bonus payments. Bonuses typically hold the bulk of the pay and are influenced by meeting set targets.
The surge in earnings in 2024 can be attributed to SAP smashing its internal targets and the stock price spike driving up the worth of the shares allotted to managers as long-term incentives. The share value has risen by a jaw-dropping 126% since 2021, according to the tech titan.
Performance-related remuneration forms more than 92% of Klein's salary, a common trend for board members of Europe's most significant software company. In 2024, the board collected an impressive 58.3 million euros, a monumental jump from the 24 million euros amassed in 2023.
SAP labeled 2024 as a phenomenal year. The software powerhouse boosted its revenues by a staggering 10% to 34.2 billion euros. However, net income dipped to around 3.15 billion euros, a stark contrast to the previous year. Despite the growth, SAP incurred several billion euros in job reduction costs.
The company's excellent performance and solid financials largely underpinned such lucrative rewards. Nevertheless, to delve deeper into the specifics of Christian Klein's compensation, one would typically need to scrutinize SAP's annual reports or proxy statements, which meticulously detail executive compensation packages, including details on the components and performance metrics.
The search results don't offer an exhaustive breakdown of Klein's compensation structure or the reasons behind its surge in 2024. However, they do hint at potential factors such as SAP's substantial revenue growth, especially in cloud services, and leadership shifts focusing on cloud and AI technologies.
Dax companies, like SAP, often see a significant increase in remuneration for their board members following successful years. Klein, a prominent figure at Dax company SAP, received a staggering 18.8 million euros in 2024, a 2.6 times increase from his 2023 earnings of 7.2 million euros. This significant remuneration was largely influenced by SAP's smashing of internal targets and the dramatic spike in the stock price, which increased the value of the shares allotted to managers as long-term incentives by 126% since 2021.
