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Catalog – Economy – Huge sums: hundreds of millions seized by the leaders of the largest Hungarian corporations

Catalog – Economy – Huge sums: hundreds of millions seized by the leaders of the largest Hungarian corporations

Despite the economic and geopolitical volatility, the largest listed Hungarian companies last year did well, which, in addition to the special taxes imposed on them, generously rewarded the performance of their top managers in 2022 based on the documents submitted to the annual year. meeting, he writes VG.

Mol’s CEO’s salary decreased, while Richter’s director’s salary increased

The index has already reported that extraordinary dividends will be distributed to Mol’s shareholders, from which the company’s CEO, Zsolt Hernádi, is not excluded. Despite the record result in 2022, which fell by 29 percent last year, he still earned 284.7 million HUF at the helm of the oil company. The first director of the company received more than half of this amount, i.e. 156 million, as a base salary, which was supplemented by an additional salary allowance of 800,000 HUF.

Through the performance-related bonus program, Hernady also received a 54 million share package and, as a member of the board of directors of the regionally dominant energy company, also received an additional 14.7 million in fees. The position of the latter was accompanied by a cash package of approximately 20 million HUF and an equity package with a total value of 39 million HUF.

Exporting to many large markets from the United States to Russia, Richter never skimped on the benefits of top management. CEO Gábor Orbán’s total benefits increased by HUF 5.5 million last year, so he managed to get HUF 262.7 million. A large part of this consisted of performance-based variable bonus items amounting to HUF 184.7 million. In addition, the fixed benefits components provided an additional amount of HUF 78 million (basic salary of HUF 57.8 million, additional bonus of HUF 8.5 million, non-salary benefits of HUF 6.5 million, voluntary pension fund contributions of HUF 1.2 million and other benefits). approximately 4 million HUF).

Magyar Telekom CEO Tibor Rékasi has become HUF 434 million richer in the past year at the helm of the company. In addition to the annual base salary of HUF 102.7 million, additional salary benefits 13.7 million were received, but nearly three-quarters of the benefits, as in Richter, were provided by performance-based items, 317.5 million.

Among the blue chips, OTP is out of line, as banks are under a different disclosure obligation, so they haven’t disclosed executives’ salaries. In the case of OTP Chairman Sándor Csányi, we only know that he earned HUF 76.7 million as an outside member of Mol’s board of directors last year.