Carrefour CEO Alexandre Bompard is due to receive at least €4.5 million for the year 2023, with additional shares possible following approval at the general assembly due to take place on May 26, according to an official announcement viewed on Tuesday.
The document, released in late March as part of Carrefour’s Universal Registration Document for 2023, revealed Bompard’s annual income. Serving as CEO since July 2017, he earned €4.43 million for 2021, €4.54 million in 2022, and is expected to draw the same amount for 2023.
At the general assembly in May 2023, 60.69% of Carrefour shareholders approved Bompard’s remuneration for 2022; approval for the CEO's salary last year fell to 56.75% of shareholders.
In late February, the supermarket declared that it had successfully navigated a “difficult environment” of high inflation in 2023, boasting a 3.6% rise in sales to €94.1 billion and a sharp increase (23%) in net income to €1.66 billion.
Bompard’s 2023 salary comprises a fixed portion (€1.6 million), a variable component (€2.85 million), €75,000 for his role as a board member, and just under €17,000 in benefits-in-kind, which includes a company vehicle.
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An additional “long-term remuneration” will be offered in the form of “performance shares” valued at a maximum of €5.3 million, or 55% of the total maximum pay. This depends on certain “performance conditions being met” and Bompard remaining with the company until February 14, 2026.
The online news source ‘L’Informé’ disclosed that Bompard possesses over one million Carrefour shares. At the close of the market on Thursday, the retailer’s share price was €15.875, valuing Bompard’s holdings at around €16.3 million.
The 2024 remuneration package that will be voted in May proposes an unchanged fixed portion (€1.6 million) and a variable component related to performance criteria, potentially up to 190% of the fixed part (€3.04 million). A long-term share plan is also expected to be introduced at “55% of the maximum total remuneration”.
