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12. 03. 10. - 14:00

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12. 03. 10. - 14:00

Austrian Peter Löscher named top-earning German company boss

An Austrian has been named as the best paid CEO among German companies listed by the country’s stock market index DAX in "crisis year" 2009.

Villach-born Siemens boss Peter Löscher earned more than seven million Euros in the last year, according to a report by business newspaper Handelsblatt. He took over at Siemens in 2007.

The German daily’s report is based on a study by economy consultant Heinz Evers. His research reveals most business leaders earned only significantly less compared to previous years despite firms’ plunging earnings.

Handelsblatt today (Fri) said Löscher and Jürgen Großmann, head of electricity provider RWE, earned the most, followed by Volkswagen general director Martin Winterkorn with around 6.6 million Euros.

Meanwhile no Austrian has made Forbes magazine’s ranking of the richest people in the world.

Neither billionaire Karl Wlaschek, who sold Billa – the supermarket chain he founded in 1953 – to German company Rewe in 1996, nor Red Bull boss Dietrich Mateschitz made the top 100.

The list is topped by Mexican Carlos Slim Helu with an estimated fortune of 53.5 billion US dollars (38.9 billion Euros).

Austrian Times

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