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'ASML chief executive earned €11m last year'

Thursday 17 January 2013

ASML’s chief executive Eric Meurice earned almost €10m last year from cashing in options and share-related bonuses, according to an investigation by the Volkskrant.

Together with his annual bonus and basic salary, the Frenchman earned over €11m in 2012, the paper says.

The Volkskrant looked at the 810 share transactions registered with the financial services authority AFM and which were carried out by Dutch company executives.

Crisis

Only former Numico boss Jan Bennink, who earned €76m from options in one year, and Rijkman Groenink, the former chief executive of ABN Amro, who took home €29m in 2007, have had higher annual packages than Meurice, the paper said.

In total, Dutch company executives earned €43.8m from their options, a rise of €5.4m on 2011.

Nutreco's Wout Dekker and Unilever's Paul Polman each earned €1.8m, while the CEOs of Fugro, Brunel and Randstad also cashed in shares and options for more than €1m.

© DutchNews.nl



 

Readers' Comments

Could someone with any social consciousness whatsoever pls explain to me why this one individual man gets 11 mil euro in one single year, and we have more families registering for food at the bank each year just to get by? I really would like to understand how this makes any decent normal human sense. Have we learned anything from 2008-2009 or are we just going to allow history to repeat itself?

By B | 17 January 2013 10:01 AM

You work , you earn, this chap earned this much money after long life of hard work and climbing up the ladder. So as per 'b'we should all work for food coupons. Everything you see and use in the world today is due to people who wish to work hard and want to be rewarded for it.

By SC | 17 January 2013 1:09 PM

Interesting use of the word "earned". I would prefer "was inexplicably paid"!

By Darren | 17 January 2013 1:29 PM

@B
You are right all should be paid equal, no matter how skilled theu are or how hard their job is...lets call that a communist system, can't fail!

By Eddy | 17 January 2013 4:01 PM

There is something known as reasonable compensation, and then there is greed. This has nothing (zero) to do with communism or 'being rewarded' - this is greed and the same indulgences that caused many of the imbalances and problems in our global financial system today.

By B | 17 January 2013 5:33 PM

I'm mainly just glad to see the greedy bankers ridiculously high salaries been made public. The public will do the rest. Most of us have seen and had enough of this type of thing.

By B | 17 January 2013 5:41 PM

Really? Does a CEO work that much harder and have more skills than anybody?

I'm sure expats would love to believe that, but judging from the number of incompetent managers, I'm not so sure...

By CW | 17 January 2013 5:49 PM

his job is very very difficult and complex , i am a developer in asml and i find it a very complex process, just imagine the level of complexity at his level. I will say he earned the 10 million, at least the company is prospering greatly under him and is creating lots of jobs thus preventing families from going broke.

By sid | 17 January 2013 6:52 PM

Spot on SC. Most of this is not a payment, but a gain made on his optons. His salary will be much lower, but should reflect his level of responsibilities.

By John C. | 17 January 2013 6:54 PM

There is of course lots of room between "all should be paid equal, no matter how..." and 10 million on bonuses alone.

By pepe | 17 January 2013 6:57 PM

Working hard and beings smart is just a small part of the equation. You need to do so while in a management position! Mid level NL managers earn more than the best and brightest engineers and scientists in the country but don't necessarily work harder and aren't necessarily smarter.

By Joe | 17 January 2013 11:48 PM

The shareholders voted for it,but if you are in a small way may as well not vote.. As long as your ???? points towards the ground those with trazillions will beat you every time.

By BenDoone | 17 January 2013 11:50 PM

THis is the dark side of capitalism. There are all kinds of plans to reward the rich and powerful and there are all kinds of plans to screw the poor and hardworking.

By ufo | 18 January 2013 9:10 AM

when Meurice toOk over Asml it was loss making and had to fire a lot of people.
He took the job on a relatively low salary but with a lot of shares for him a big risk.
In 2012 in a bad market ASML made more than Eu 1B profit agian after 2011. He has brought huge investors like Intel who invested 3B$
Over 8 years he has built a hugely profitable company from a loss making one.
His salary was Eu700k
The board has decided to buy back shares so on the basis of the success he has brought the shares are now worth a lot.
1% of profit 1 time is not a huge reward

By nd | 18 January 2013 9:37 AM

It is pretty clear to me which of you posters are American and which are not.

By Stupid | 18 January 2013 6:28 PM

 
 
 
 
 
 
 
 
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