The new Chairman of CaixaBank, José Ignacio Goirigolzarri, will receive a fixed annual remuneration of 1.65 million euros, to which he can add a variable remuneration of up to 200,000 euros in case of meeting objectives, according to the proposal that will be put to a vote in the shareholders’ meeting of May 14. In addition, the entity will bring to the assembly the approval of the maximum level of variable remuneration of 200% of their fixed salary for the 216 employees whose professional activities have a significant impact on their risk profile.
The entity will approve in its meeting to raise the variable payment to 200% of the fixed one for 216 employees with direct involvement in the level of risk
Goirigolzarri, who more than triples his remuneration as president of Bankia – he received 500,000 euros last year because the entity had limited salaries due to the aid received, resigned the variable part – will have a long-term incentive, also of a variable nature and materialized in shares of the entity during different years from 2025, which will only be received if the objectives set by the entity are met.
Jordi Gual, former president of CaixaBank and who, unlike Goirigolzarri, did not have executive functions, received a remuneration of 1.382 million in 2020, of which 1.090 million corresponded to the fixed salary. According to sources from the entity, the board of directors has considered the new dimension of the bank, the first financial group in Spain and the tenth Ibex company by market capitalization, in addition to the fact that the new president has executive functions.
“When establishing the remuneration policy for the new president, the recommendations of the European Banking Authority have also been taken into account, ensuring that the variable part has a certain weight in the remuneration mix”, they added.
With this proposal to the shareholders’ meeting, CaixaBank proceeds to update its remuneration policy for the board of directors that it approved in 2020 for the period 2020-2022, and does so as a result of the merger of Bankia and the new composition of its highest management body. The new text does not include significant changes in the remuneration of the CEO, who will receive a fixed cash salary of 2.26 million euros, or in that of the rest of the directors.
