Overview
- An analysis of 2025 pay disclosures shows 26 of the 40 DAX chiefs received more than in 2024, and 24 topped €6 million.
- Deutsche Bank’s Christian Sewing saw the biggest gain, rising from €6.1 million to nearly €15.7 million as long-term bonuses granted since 2018 vested.
- SAP’s Christian Klein remained the highest paid at about €16.2 million, and six CEOs still earned in the double-digit millions even as only three kept their spots from the prior year.
- Pay moved with sector fortunes, with Rheinmetall’s Armin Papperger up to about €10.2 million as defense orders swelled, while Mercedes’ Ola Källenius and VW’s Oliver Blume each fell about 30% as autos struggled.
- Exit packages swelled totals for departing bosses, with Continental’s Nikolai Setzer receiving roughly €4.8 million in severance and Vonovia’s Rolf Buch collecting €3.3 million for a non-compete plus shares worth about €4.5 million.