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).
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Featured photo : ©Richemont
