Richemont’s CFO becomes the group’s highest-paid executive

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The Remuneration Committee of Compagnie Financière Richemont has decided to award a discretionary bonus to CFO Burkhart Grund, increasing his compensation to 12.9 million Swiss francs. This makes him the highest paid member of the luxury goods group and the second-highest paid executive of any listed company in Switzerland.

 

At the end of the 2022/2023 financial year, which ended at the end of March, Burkhart Grund, Chief Financial Officer (CFO) of luxury goods group Richemont, received total compensation of 12.9 million Swiss francs (13.25 million euros), an increase of more than 50% on the previous year’s figure of 8.5 million Swiss francs (8.73 million euros).

 

The total remuneration of 12.9 million Swiss francs is the highest among the luxury goods group’s senior executives. This includes an additional payment of 2.2 million Swiss francs (2.3 million euros), attributed to “outstanding performance and commitment” to the company over the years, according to the annual report published on Friday.

 

According to data compiled by AWP Data on executive compensation at listed companies in Switzerland, Richemont CFO’s remuneration is the second-highest, behind that of former Roche CEO Severin Schwan (15.05 million Swiss francs), and ahead of former UBS CEO Ralph Hamers (12.64 million Swiss francs).

 

Other salaries

 

CEO Jérôme Lambert received 7.9 million Swiss francs (8.11 million euros), compared with 7.4 million Swiss francs the previous year. The other members of the Executive Board, Patricia Gandji and Bérangère Ruchat, respectively Director of Human Resources and Head of Sustainable Development Issues (ESG), shared 855,175 Swiss francs (878,000 euros). Both executives joined the management team during the year, according to the Group’s annual report.

 

On the supervisory board, Johann Rupert, the principal shareholder and Chairman, received a stable remuneration of 3.06 million Swiss francs (3.69 million euros). The rest of the Board of Directors received 3.4 million Swiss francs (3.69 million euros), after 4.2 million euros previously.

 

Buoyed by strong demand in the high-end jewelry and watchmaking sector, the Geneva-based group has set record sales of around 20 billion Swiss francs (20.54 million euros) for the 2022/2023 financial year.

 

In the early afternoon, the share was up by almost 3% on the Swiss and Johannesburg stock exchanges.

 

 

Read also >Richemont reports record annual sales

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The Remuneration Committee of Compagnie Financière Richemont has decided to award a discretionary bonus to CFO Burkhart Grund, increasing his compensation to 12.9 million Swiss francs. This makes him the highest paid member of the luxury goods group and the second-highest paid executive of any listed company in Switzerland.

 

At the end of the 2022/2023 financial year, which ended at the end of March, Burkhart Grund, Chief Financial Officer (CFO) of luxury goods group Richemont, received total compensation of 12.9 million Swiss francs (13.25 million euros), an increase of more than 50% on the previous year’s figure of 8.5 million Swiss francs (8.73 million euros).

 

The total remuneration of 12.9 million Swiss francs is the highest among the luxury goods group’s senior executives. This includes an additional payment of 2.2 million Swiss francs (2.3 million euros), attributed to “outstanding performance and commitment” to the company over the years, according to the annual report published on Friday.

 

According to data compiled by AWP Data on executive compensation at listed companies in Switzerland, Richemont CFO’s remuneration is the second-highest, behind that of former Roche CEO Severin Schwan (15.05 million Swiss francs), and ahead of former UBS CEO Ralph Hamers (12.64 million Swiss francs).

 

Other salaries

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The Remuneration Committee of Compagnie Financière Richemont has decided to award a discretionary bonus to CFO Burkhart Grund, increasing his compensation to 12.9 million Swiss francs. This makes him the highest paid member of the luxury goods group and the second-highest paid executive of any listed company in Switzerland.

 

At the end of the 2022/2023 financial year, which ended at the end of March, Burkhart Grund, Chief Financial Officer (CFO) of luxury goods group Richemont, received total compensation of 12.9 million Swiss francs (13.25 million euros), an increase of more than 50% on the previous year’s figure of 8.5 million Swiss francs (8.73 million euros).

 

The total remuneration of 12.9 million Swiss francs is the highest among the luxury goods group’s senior executives. This includes an additional payment of 2.2 million Swiss francs (2.3 million euros), attributed to “outstanding performance and commitment” to the company over the years, according to the annual report published on Friday.

 

According to data compiled by AWP Data on executive compensation at listed companies in Switzerland, Richemont CFO’s remuneration is the second-highest, behind that of former Roche CEO Severin Schwan (15.05 million Swiss francs), and ahead of former UBS CEO Ralph Hamers (12.64 million Swiss francs).

 

Other salaries

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Thanks to its extensive knowledge of these sectors, the Luxus + editorial team deciphers for its readers the main economic and technological stakes in fashion, watchmaking, jewelry, gastronomy, perfumes and cosmetics, hotels, and prestigious real estate.

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