2023-09-13 14:10:33
Wednesday, September 13, 2023, 2:10 p.m.
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The executive directors of companies listed on the Ibex 35 had a remuneration in 2022 that represented, on average, 54 times the salary of their workers, according to the Annual Report on Board Remuneration prepared by the CNMV. This has been the second year in which companies have had to make comparisons between the remuneration of directors, ordinary results and the average remuneration of employees. Last year was the first time, with 2021 data, and the remuneration of executive directors represented, on average, 60 times the salary of their employees, so the salary gap has been slightly reduced. Extraordinary concepts are not taken into account in this comparison. In the case of the executive directors of the rest of the listed companies that are not part of the Ibex, the executive directors earned 17 times more than their employees, the same ratio they registered in 2021. If the total number of listed companies is taken, the remuneration inequality is 31 times, when a year before it was 32 times, that is, a small reduction. For their part, non-executive directors received remuneration that was, on average, three times the average for employees.
Overall, average director compensation decreased in 2022, for both executives and non-executives. The remuneration of boards of directors fell by 4.4% last year because in the previous year there were more extraordinary remunerations due to the dismissal of directors in a company. Without these extraordinary remunerations, the decrease would have been 2.6%. The average remuneration of executive directors decreased by 4.3% in 2022, to 1.6 million euros, while that of non-executive directors decreased by 8.4%, to 153,000 euros.
The CNMV calls on listed companies to better explain their evaluation of compliance with the non-financial objectives to which variable remuneration is linked.
Gender pay gap
Regarding the gender pay gap, female executive directors received a remuneration 0.3% higher than that of men, a difference that increases to 41.7% in the case of the highest average remuneration of female executive directors of the Ibex. compared to the male executive directors of said index. But the CNMV recognizes that “the small number of executives reduces the representativeness of said average.” In the case of non-executive directors, the remuneration of men is 20% higher than that of women.
On the other hand, the presence of women on boards increased by 2.6 percentage points, up to 31.9% for the total number of contributors, exceeding 30% for the first time. Only in the Ibex 35, the number of female directors was 37.6% of the total. In addition, women in senior management positions were 21.7% of the total, 2.1 points more.
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