FRANKFURT, Nov 23 (Reuters) - Supervisory board heads at German blue-chip groups will earn 4.4 percent more in 2016 as they face tougher challenges, a report said, with top salaries expected to be paid by Deutsche Bank and Siemens .
The average annual salary for the position is expected to rise to 372,100 euros ($392,566), according to the report by consultancy Willis Towers Watson, which relied on forecasts for Germany’s 30 biggest listed companies that make up the benchmark DAX index.
This is less than the average annual salary paid in Switzerland and Britain, which stands at 2.05 million euros and 624,000 euros, respectively, the report said.
“Supervisory board heads have seen their tasks grow significantly more complex over the past years. The scope of responsibility and liability risks have increased,” said Helmuth Uder, managing director board & executive compensation at Willis Towers Watson.
At 800,000 euros, the highest paid chair will be Paul Achleitner of Deutsche Bank, which is expected to undergo a strategic overhaul next year as it braces for a large fine in the United States for alleged mis-selling of securitised debt.
Siemens and BMW will pay their supervisory board heads 608,000 euros and 600,500 euros, respectively. Their counterparts at Thyssenkrupp will earn 210,000 euros, Adidas 205,300 euros and Merck 97,800 euros, at the lower end of the range, the report said.
Remuneration for supervisory board chairs has increased by an average 7 percent since 2005, more than the 3 percent rise for chief executive officers, the report said. ($1 = 0.9479 euros) (Reporting by Christoph Steitz; Editing by Alexandra Hudson)