Debate over employers’ high salaries. In 2001, most German multinationals made a lot of profit. And record profit means record pay. Let’s give three examples only: Martin Winterkorn, CEO of Volkswagen, gets the highest salary ever earned by a German employer with €16.5 million. Then come Josef Ackermann (Deutsche Bank) with €9/4 million and Peter Löscher (Siemens) with €8.4 million. Two years after the end of the crisis, these peaks are causing uneasiness among politicians, unions and some managers. On Monday, Klaus Peter Müller, chairman of the Federal Committee on Corporate Governance and Chairman of the Commerzbank’s supervisory board, sent, together with Daimler’s financial manager, who is also a member of the Committee, a “private” open letter to these managers, asking them to “add limits to the systems for calculating managers’ pay, limits which will remain under the control of the supervisory board.” The authors remind that the “market economy rules should be understood and accepted by society.” They know that their colleagues could not like their initiative, in favor of self-regulation measures, but they are even more afraid, with the 2013 electoral campaign coming near, and want to prevent a legislative initiative on the subject.
mler’s financial manager, who is also a member of the Committee, a “private” open letter to these managers, asking them to “add limits to the systems for calculating managers’ pay, limits which will remain under the control of the supervisory board.” The authors remind that the “market economy rules should be understood and accepted by society.” They know that their colleagues could not like their initiative, in favor of self-regulation measures, but they are even more afraid, with the 2013 e
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