Eutelsatís Berretta tops French Ďrich listí
No wonder he's smiling. French financial newspaper LíExpansion printed its list of top 2008 earners on April 24. In terms of leading French companies, the newspaper says Eutelsatís CEO Giuliano Berretta took top place, earning an impressive Ä21m when salary, stock options and other benefits are included.
LíExpansion looked at 42 top earners and calculated their average earnings last year to be some Ä4.7m, down 15% on 2007ís numbers. However, the companiesí profits were down about 22% on average last year, while the stock market has tumbled some 43%.
Out of Mr Berrettaís total package of Ä21m, some Ä18.59m were in the form of stock options.
In fairness to Mr Berretta, his remuneration package last year was dramatically below this sum. This yearís numbers include accumulated stock options, which in themselves are performance related so the numbers quoted by the newspaper do not Ė as yet - represent a cash value to Mr Berretta.
The Ä4.7m average is equal to 19-yearsí worth of salary to the President of the French Republic (currently Mr Sarkozy).