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Latest Satellite News Discussion, New Berretta tops the income charts at General Satellite News forum; Berretta tops the income charts 04-11-2009 Giuliano Berretta, the outgoing CEO at Paris-based Eutelsat, has almost topped the league ...

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Thumbs up New Berretta tops the income charts - 04-November-2009, 17:20

Berretta tops the income charts

04-11-2009


Giuliano Berretta, the outgoing CEO at Paris-based Eutelsat, has almost topped the league table of top French executives. His total package topped 19.3m, and he is second only in the list to the boss of the Camaeu clothing chain. Eutelsats latest results are revealed Nov 5.

In absolute fairness, Mr Berrettas overall package was based on a modest enough salary of 600,000, plus assorted bonuses worth another 1m, but the larger proportion of the remuneration package came from various share options, many granted when Eutelsat was floated. They were worth 17.7m to him last year.


Frances Capital magazine analysed the wealth and income of Frances senior managers, and Mr Berretta managed to receive a Red Card from the magazine which stated that his reward package was disproportionate to his performance at Eutelsat (based on rising share value, dividends paid and their regularity, profitability, gross margin).


On the other hand this is Mr Berrettas last year as CEO. He retires from the position in a few weeks, and thus his total package may be skewed for the financial year in question (which ended in June). He will stay on as the companys Chairman.



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