Top management of companies earned, on average, R$3.7 million – 02/27/2024 – Panel SA

A survey by IBGC (Brazilian Institute of Corporate Governance) shows that the pandemic boosted the salaries of directors and officers of companies listed on B3 and that the amounts paid to the presidents of the boards of directors were four times above the average for other directors.

The document, which will be released this Tuesday (27), reveals that the highest salaries were paid to statutory directors. The average salary in this group was R$3.7 million in 2022 — an increase of 29% compared to 2020, the last period available. Part of this result is due to variable remuneration (bonuses and company shares).

Next are the board members. The average, in 2022, was R$713.4 thousand per year — an increase of 28%.

At the bottom were the tax advisors, with an annual average of R$129,600 per year — just over a 6% increase.

For Luiz Martha, research and content manager at IBGC, this scenario is explained by the performance of companies, which were drowning during the pandemic and returned to having good results.

Furthermore, in many cases, the board began to play a more active role, gaining more relevance in companies’ decision-making.

“After the pandemic, the board became much more involved in guiding the company and interacting with executives than it used to happen before. It was a closer relationship between managers, more than just monitoring, but also guiding and working together,” he said. Martha.

In charge

Another point in the IBGC balance sheet is the difference in the remuneration of council presidents in relation to other counselors. On average, they earned four times as much.

“It is necessary to discuss this disparity. It is up to each investor and shareholder to understand whether in their company that value makes sense or not, whether the president has characteristics and skills that make him so different, whether it is necessary to pay such a large difference in relation to too much, or if it is a diversion of the company’s purpose and resources to someone specific.”

The information compiled by IBGC was extracted from administrators’ remuneration data for the 2022 financial year. These are data reported in the reference forms and other basic forms of listed companies.

With Diego Felix

LINK PRESENT: Did you like this text? Subscribers can access five free accesses from any link per day. Just click the blue F below.