The largest company in Romania, and whose shareholders include future retirees through the Pilon II private pension funds, published in an annual report the management’s income, i.e. the income of those who hold the helms of Petrom, a company evaluated by investors from the Stock Exchange from Bucharest to about 6 billion euros.
Thus, Christina Verchere, CEO of OMV Petrom (SNP), the largest company listed on the Bucharest Stock Exchange in terms of capitalization, published in the report on management remuneration for 2022, which investors can access in the AGM section , a basic gross salary of 415,000 euros in 2022, i.e. about 35,000 euros per month. For comparison, in 2021 the basic gross salary was 414,000 euros.
The annual bonus was 595,000 euros in 2022, to which is added the tranche of the long-term incentive plan (LTIP), which includes shares in the period 2020-2022, of approximately 463,800 euros. Therefore, from the bonus and shares, Christina Verchere added 1 million euros to the gross remuneration, resulting in a total of 1.48 million euros in the 2022 report. For comparison in the previous report, Christina Verchere published 1.45 million euros.
Alina Popa, CFO and member of the Petrom directorate, published a basic salary of 272,300 euros, i.e. 23,000 euros monthly, plus a bonus of 153,000 euros plus the LTIP installment of 186,000 euros, so a total remuneration of 612,000 euros .
Radu Căprău, member of the directorate responsible for refining & marketing, published a basic salary of 283,000 euros, i.e. 24,000 euros monthly, plus a bonus of 157,000 euros plus the LTIP installment of 175,000 euros, so a total remuneration of 615,000 euros .
“In addition to the remuneration components indicated above, the members of the Directorate receive benefits in kind, including a company car and accident insurance. For foreign employees, additional allowances (eg accommodation) have been agreed. For the financial year 2022, the following benefits in kind were paid: Christina Verchere: 581 euros; Alina Popa: 363 euros; Radu Căprău: 363 euros; Franck Albert Neel: 366 euros; Christopher Veit: 1,400 euros. The members of the Directorate employed abroad receive a compensation for the previous pension plans, in the following amounts: Christina Verchere: 248,500 euros; Frank Albert Neel: 120,000 euros; and Christopher Veit: 191,239 euros”.
To all these amounts is added an allowance of 20%, applicable, temporarily, to all employment contracts in order to compensate for the transfer of social insurance contributions from the employer to the employee based on the fiscal changes introduced by GEO no. 79/2017, according to Petrom.
OMV Petrom, the largest company in Romania, finished last year with a consolidated business of 61.3 billion lei (about 12.5 billion euros), about 2.4 times higher than in 2021, and a profit net of 10.3 billion lei (over 2 billion euros), unique in Romania’s history.
With oil and gas production declining, the main driver fueling these results was price increases. The Romanian state directly collected 16.5 billion lei (3.4 billion euros) from all the taxes paid by OMV Petrom, after last year it introduced 20 changes regarding the taxation of energy companies. The company mentioned that, in total, it paid taxes of about 20 billion lei to the Romanian state last year, including dividends, i.e. double the net profit.
The company is 52% controlled by Austrians from OMV. The Romanian state has 20.7%, and the pension funds around 13%.
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