In our country, for the first time in history, two CEOs of listed companies have earned more than 10 million euros annually. This milestone was achieved by Ilham Kadri of Solvay and Tim Van Hauwermeiren of Argenx. Kadri topped the list as the highest-paid CEO in the Bel20, a group of the 20 most important listed companies in our country. Her exceptional bonus of 12 million euros for the split of Solvay into two separate listed companies, Solvay and Syensqo, contributed significantly to her total package of 17.3 million euros, breaking the 10 million barrier for the first time.
Van Hauwermeiren also reached the 10 million mark by earning 10.75 million euros last year. His earnings included a fixed salary, cash bonus, and stock options. The exceptional bonuses awarded to both Kadri and Van Hauwermeiren contributed to an average remuneration of Belgium’s top CEOs being 3.29 million euros, a quarter higher than in 2022. Excluding bonuses, their average was still significantly higher than an employee’s average annual salary in our country.
The disparity between CEO earnings and average employee wages is staggering at 56 times, with CEOs earning over 47,600 euros annually. This has sparked discussions about executive compensation and income inequality in the corporate world. However, for Kadri and Van Hauwermeiren, their exceptional bonuses and earnings set a new standard for CEO compensation in our country.
Despite these high salaries and bonuses given to CEOs of listed companies in our country, it is crucial that we continue to address income inequality in our society as a whole. We must ensure that everyone has access to equal opportunities and fair compensation for their work so that no one is left behind or disadvantaged due to their position or background.
In conclusion, while we celebrate these achievements made by Kadri and Van Hauwermeiren as pioneers in setting new standards for CEO compensation in our country