Carrefour wants to give its CEO, Alexandre Bompard, a remuneration of at least 4.5 million euros for the year 2023, plus shares as an added bonus. However, the shareholders still need to vote on the deal.
Narrow majority
Bompard would see his pay stay stable on 4.54 million euros for 2023, if the general shareholders’ meeting at the end of May approves the deal. Last year, there only was a narrow margin of approval, with 56.75 % of the vote. The remuneration package was met with exceptionally large opposition at the time.
Carrefour now argues that it weathered 2023 well, despite the difficult inflationary climate: sales rose by 3.6 % and net profit even by 23% to 1.66 billion euros. The company therefore proposes a fixed remuneration of 1.6 million euros and 2.85 million euros in variable compensation. On top of that, Bompard would receive 75,000 euros as a director and some 17,000 euros in benefits in kind.
The CEO would further be entitled to performance shares as a “long-term incentive”: depending on performance conditions and whether Bompard remains with Carrefour until at least 14 February 2026, shares worth up to 5.3 million euros could be added. The top executive is said to have accumulated over a million Carrefour shares over the years, currently worth around 16.3 million euros.
