Siemens CEO Roland Busch has joined the ranks of top earners in Germany’s DAX blue-chip index in the past fiscal year, after his total compensation rose 32% to 12.33 million euros ($14.38 million), according to the company’s annual report published on Wednesday.
The compensation for fiscal 2024/25, which ended in September, compared with 9.36 million euros a year earlier, when Busch ranked seventh among DAX chief executives despite Siemens being Germany’s second-most valuable company after SAP. The nearly 3 million euro increase was driven by share-based bonuses granted to Busch in 2021 that became payable this year.
Human resources chief Judith Wiese ranked second on Siemens’ executive board pay list for fiscal 2024/25 with 9.13 million euros, up from 3.17 million euros, ahead of Chief Financial Officer Ralf Thomas, who received 7.80 million euros compared with 7.24 million euros previously.
Wiese’s pay jump was also linked to share-based bonuses from 2021. She had received an additional allocation when she joined in 2020 from Dutch company DSM as compensation for entitlements she would have received had she stayed at DSM.