José Ignacio Goirigolzarri, received a remuneration of 1.69 million euros last year as president of CaixaBank and its CEO, Gonzalo Gortázar, obtained 3.89 million. In both cases, it represents a substantial improvement compared to the 500,000 euros that Goirigolzarri received in 2020 from Bankia, where his salary was limited as it was a bank with State participation and after having renounced his variable, something that Gortázar also did, charging that same year 2.83 million.
Compared to 2019, the remuneration of the CEO of CaixaBank increased by 3.5% last year due to greater achievement of the challenges included in the annual bonus.
In the case of the president, his remuneration more than triples because before it was limited by law and he has not received his full salary since he took office at CaixaBank in March. The full payroll would be 2.1 million, but even so it is located very far from bankers with comparable positions in competing entities.
By concepts, of the total of 1.69 million, the president paid 1.24 million in fixed remuneration, 373,000 euros in variable and 73,000 euros for other concepts, mainly health and life insurance premiums. Goirigolzarri has no contributions from the bank to pension systems set up in his favor.
In the case of Gortázar, he obtained 2.26 million in fixed remuneration, which has remained unchanged since 2019; another 1.05 million for variable remuneration and has 505,000 euros in contribution to the long-term savings system and another 72,000 euros in other concepts.
For his part, Jordi Gual, who was president of CaixaBank until the merger with Bankia and when he passed the baton to Goirigolzarri, obtained between January and March 2021 a remuneration of 331,000 euros.
In total, the bank has remunerated all the members of its CaixaBank board of directors with 9.44 million euros, above the 6.71 million in 2020 as there is one more director and the recovery of variable payments to those who had resigned due to the pandemic.
Senior management received a total of 15.28 million, also above the 10.5 million of the previous year, due to the increase in the number of members of the Management Committee after the merger (with two new positions) and to the recovery of remuneration variable.
However, the average remuneration of the workforce was reduced from 59,000 to 58,000 euros, as it appears in the documents presented today by the bank to the National Securities Market Commission (CNMV).
The bank will bring to its next shareholders’ meeting, which is held on April 8, the proposal for a new director remuneration policy for the year 2022 and following to adapt it to the new regulatory framework and introduce greater transparency.
In the new policy, which will be formulated after the expiration of the previous one set for several years, it will reflect that the remuneration of the entity’s top two executives will be maintained and they will only have a variable remuneration system. In other words, the annual and multi-annual metrics will be unified in a single scheme, and will also refer to quantitative and corporate metrics in their entirety.
In addition, a three-year retention obligation is established for the shares they receive, instead of one year, as up to now, and sustainability metrics are included in the different challenges that are set to achieve the bonus.
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