Renault CEO Payment Attracts Government and Unions’ Anger image

Nissan CEO Carlos Ghosn’s 7.6-million-euro annual salary is expected to upset French government and unions, who are already angry for the 2.47-million-euro he got in 2012 for running Renault.

Industry Minister Arnaud Montebourg, as well as labor union officials, consider Ghosn’s salary at Renault to be excessive, taking into consideration that the French automaker has began to implement wage freezes and cut jobs in its home market. After negotiations with CGT unions Ghosn agreed to postpone 30% of his variable Renault bonus for last year until 2016. Still the unions considered this to be an affront to the workers in France, as the CEO salary for 2012 still came to more than 27,500 euro a day.

Now Ghosn is also considered the “best-paid CEO in Japan” after Nissan reported he has made 988 million yen for the fiscal year ended March 31st, compared with Toyota boss Akio Toyoda who got 184 million yen and Honda CEO Takanobu Ito who received 145 million yen for the same period.

During the financial year ended March, Ghosn’s compensation increased 0.1% compared with the previous year, even if Nissan’s operating profit margin dropped 5.4%, lagging rivals Honda and Toyota. Carlos Ghosn’s compensation, without stock operations, still surpasses his peers at the other Japanese automakers.

Source: Autonews