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The
total pay includes 1.4 million euros in fixed compensation, the
same as in 2017, and 1.72 million in annual variable
compensation, compared with 2.4 million in 2017, and 69,000 in
other benefits, the documents showed.
The company said in a statement that the decrease in variable
compensation resulted from criteria based on the average
three-year change in Total's adjusted net income in comparison
with those of its peers. "The Board of Directors wants to
emphasize that the decrease by 17 percent of Patrick Pouyanne's
cash remuneration due for the year 2018, resulting from the
strict application of the rules,... doesn’t reflect in any way
its appreciation of the exceptional work accomplished in 2018 by
(him)," it said.
Pouyanne has often quipped that he is the least paid among the
bosses of the global oil majors. The company reported a 28
percent jump in full-year profit in 2018 to $13.6 billion.
In comparison, Shell's CEO Ben van Beurden's 2018 pay package
more than doubled to 20.1 million euros and Chevron Corp has
said its Chief Executive Officer Michael Wirth is eligible for
$19 million in total pay this year.
Total's shareholders will vote on Pouyanne's proposed package
during an annual meeting on May 29.
(Reporting by Bate Felix; editing by Leigh Thomas and Kirsten
Donovan)
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