Within the annual common common conferences of the shareholders of the listed firms which might be at the moment held, among the many points that the latter are requested to approve are the remunerations of the administration executives (chairman, CEO and members of the Board of Administrators).
Their ultimate earnings are the sum of normal and variable pay. Variable remuneration contains bonuses for attaining varied firm targets on account of their administration and the load they’ve because of their place.
The remuneration of executives in Greek firms and particularly of the CEO is of a number of curiosity. The obvious is their top. I imply, how a lot do they get? It is usually essential whether or not the salaries are actually justified by the work and the achievement of targets, however one other component is their comparability with their colleagues employed in corresponding firms in Europe.
In fact, it is usually price noting whether or not the Greek authorities is a shareholder within the firm managed by a well-paid CEO…
Greek vs European CEOs
So I discovered from the report of the annual salaries of the members of the Board of Administrators of Helleniq Power a analysis that has been executed between the charges of the CEO of the listed Mr. Andreas Siamisii and the managing administrators of enormous Greek firms and people main European refineries.
From this one can draw helpful conclusions as as to whether Greek CEOs are effectively paid or costly in comparison with their European colleagues.
Within the analysis, OTE, OPAP, Titan, Motor Oil and Mytilineos are used as Greek reference firms and NESTE OIL, SARAS, ERG, OMV and GALP ENERGIA as European reference firms.
“scissors”
Within the related desk that’s printed, the full of normal and variable remuneration of the CEO of a reference European firm (not named) in 2023 exceeded 10.02 million euros, in one other it reached 4.39 million euros and in a 3rd firm the CEO acquired 1 .95 million euros.
Within the pattern for the corresponding CEO charges in Greek reference firms, it seems that a listed firm paid its high govt with 2.86 million euros and a second firm with 2.82 million euros. Extra knowledge for 2023 was not accessible as firms now publish the annual remuneration of their administration members.
The “scissors” are massive.
Mr. Andreas Siamisiis
Concerning the CEO of Helleniq Power, Mr. Andreas Siamisii, his whole annual remuneration amounted to 1.10 million euros, whereas in 2022 it was 1.01 million euros.
Fairly, Mr. Siamisiis is likely one of the lowest paid managers not solely in comparison with their European colleagues but in addition in comparison with the Greeks.
I’ll merely let you know that Helleniq Power is adopting a brand new remuneration mannequin for its executives in an effort to additional align administration salaries with these of European high officers.
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Fathers
And from refining to take you to hydrocarbons and the inexperienced transition and an in depth relationship of two executives concerned within the analysis venture to determine potential pure fuel deposits.
I’m referring to the CEO of the Hellenic Hydrocarbons and Power Sources Administration Firm (EDEYEP), Mr. Ari Stefatos, and the CEO of the Patras Port Authority, Mr. Panagiotis Anastasopoulos.
The primary is essentially the most competent and chargeable for the execution of the nation’s growth program within the upstream and offshore wind farms. And the second is making ready the port of Patras in an effort to be an operational base for the oil firms which have undertaken the analysis in addition to for the businesses that can want a port for the event of the offshore wind generators.
They had been each at Posidonia 2024 collaborating in occasions and presenting the alternatives for delivery from the longer term growth of the 2 industries.
What’s their shut relationship? They’re each from Patras and maybe the locality is what unites them within the realization of the formidable ventures.
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Mr. Evangelos Meimarakis
And since we’re transferring on the tempo of the European elections, let me offer you slightly ambiance.
It occurred yesterday and precipitated fairly a stir within the Maximos Palace and past. In an interview on Sky TV, the New Democracy MEP candidate – and an skilled politician – Mr. Evangelos Meimarakis was requested in regards to the accuracy and the way he evaluates the initiative of the Prime Minister, Mr. Kyriakos Mitsotakis, to ship the well-known letter to the president of the European Fee, Mrs. Ursula von der Leyen responded by saying “the problem of accuracy doesn’t concern Brussels” as a result of “there’s one other agenda there”!
And he’s proper
With one sentence, Mr. Meimarakis fully deconstructed the principle argument of Mr. Mitsotakis in regards to the issues which might be going to occur after the European elections, for the reason that multinationals will probably be … “hunted down” by Brussels! Who has seen God and never been afraid of it? There was panic within the Maximos Palace, in addition to within the employees of the MEP candidate, who was attempting to get issues collectively. SYRIZA – PS made a press release, its president Mr. Stefanos Kasselakis made a press release. No he would depart it…. And the joke, do not you? How Mr. Meimarakis was proper in his statement. However it’s true that within the “slightly than one” of the European elections, such issues will not be mentioned – to say the reality of the “inmates” of the Megaros Maximos!
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