DaimlerChrysler chief executive Dieter Zetsche broke with German tradition and revealed his pay package at the carmaker’s annual shareholders meeting on Wednesday, according to Reuters.
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Chairman Hilmar Kopper reportedly told investors Zetsche – who became CEO at the start of this year and pledged a spirit of openness – will earn a basic salary of EUR1.5m ($US1.82m) in 2006 and a performance-linked bonus of up to 150% of that sum, to be paid out in 2007.
In addition, he gets 59,563 “phantom” or virtual shares in the company to be paid out in 2010 if the company meets internal and external targets, Kopper said, according to the news agency.
