Siemens significantly increases executive salaries

The remuneration of Siemens CEO Roland Busch for the fiscal year 2024 increased by a remarkable 26% to 8.61 million euros. This is evident from the current annual report of the German technology group. Busch, who has been at the helm of Siemens since February 2021, earned 6.82 million euros in the previous year. CFO Ralf Thomas also saw a significant salary increase, receiving a total package of 6.74 million euros, which represents an increase from 5.27 million euros compared to the previous year. Despite these generous adjustments in the executive suite, the salary increase for Siemens employees in Germany averaged only 3%, leading to an average salary of 110,000 euros. However, Siemens can be pleased with a 5% increase in net profit, reaching 8.99 billion euros in the 2024 fiscal year, which ended in September. This confirms the technology giant's solid economic development.