PAY DAY: Axel Dumas, chief executive officer of Hermès International, will see his fixed annual salary rise 14.4 percent this year to 1.26 million euros, or $1.4 million at current exchange. His variable compensation is to increase 10.9 percent to 1.29 million euros, or $1.44 million.
The executive chairman’s compensation, decided by the management board of Emile Hermès SARL at its meeting March 22, was based on two criteria: consolidated profit before taxes and the consolidated sales of the company, Hermès International said Friday in a regulatory filing.
Dumas also receives benefits in kind, namely representation, according to the release. The company has agreed to pay Dumas an amount equal to 24 months’ total compensation in the event that his appointment as executive chairman is terminated.