Daimler CEO Zetsche awarded 8.2 mln euros in pay for 2013

FRANKFURT Fri Feb 21, 2014 5:05am EST

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FRANKFURT Feb 21 (Reuters) - Daimler's Chief Executive Dieter Zetsche was awarded 8.247 million euros ($11.31 million) in total pay for 2013, the company said, a raise of just 1.2 percent even as the Stuttgart-based auto maker posted a 45-percent rise in profit.

Zetsche's fixed salary remained stable at 2.008 million euros. He received a further 6.239 million euros worth of variable pay, Daimler's annual report, which was published on Friday, showed.

Daimler's board was awarded 30.228 million euros in pay, the report showed.

Earlier this month, Daimler reported a forecast-beating 45 percent rise in fourth-quarter adjusted group earnings before interest and tax (EBIT), thanks to improved profitability at its trucks and cars units which also have a rejuvenated range.

The results show that executives in the automotive industry can earn more than their once high-flying rivals in the banking industry.

Last year, Deutsche Bank announced co-Chief Executives Anshu Jain and Juergen Fitschen would get 4.8 million euros each for 2012, docking pay after the bank was forced to restate its earnings due to additional legal provisions.

For 2011, Jain received 9.8 million euros and Fitschen 4.2 million euros in variable and fixed pay, and long-term incentives. ($1 = 0.7293 euros) (Reporting by Edward Taylor; Editing by Christoph Steitz)

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