the board of directors proposes a 10% increase in the remuneration of its CEO Patrick Pouyanné in 2023

Will Patrick Pouyanné soon see his remuneration increase? The board of directors of TotalEnergies assured Thursday, March 16 that it would propose at the general meeting of shareholders on May 26 a 10% increase in the remuneration of its CEO, under fire from criticism last year for his salary statements. Council will submit a motion that “the compensation and the allocation of performance shares for 2023 are proposed to be increased by 10% compared to 2022”according to a press release from the group on the convening of this general meeting.

It’s about a “rise equivalent to that enjoyed on average by executives of the common social base in France”, the group said. The increase comes from the increase in the number of shares allocated to the CEO, the fixed remuneration of 1.5 million euros and the variable one not changing, said a source at TotalEnergies.

In 2021, Patrick Pouyanné’s remuneration had increased by 51.7%, to 5,944,129 euros, an amount at the heart of a controversy in the fall in the midst of a wage dispute in the group’s refineries. This increase followed a 36.4% drop in his compensation in 2020, the result of a salary cut presented at the time as “deliberate” during the health crisis, and the decline in the variable part of his salary that year linked to the group’s results.