In 2023, two CEOs of listed companies in our country surpassed the 10 million euro mark in annual earnings. Ilham Kadri of Solvay and Tim Van Hauwermeiren of Argenx reached this milestone, with Kadri earning an exceptional bonus of 12 million euros for splitting Solvay into two separate listed companies. Her total package of 17.3 million euros broke the 10 million barrier for the first time. Van Hauwermeiren earned 10.75 million euros, including a fixed salary, cash bonus, and stock options.
The average remuneration of Belgium’s top CEOs was 3.29 million euros in 2023, a quarter higher than the previous year and significantly higher than the average annual salary of an employee in our country. This disparity between CEO earnings and average employee wages is 56 times, with CEOs earning over 47,600 euros annually. The high earnings have sparked discussions about executive compensation and income inequality in the corporate world. However, for Kadri and Van Hauwermeiren, their exceptional bonuses and earnings set a new standard for CEO compensation in our country.