Westwing Group SE is preparing for its Annual General Meeting on 17 June, with CEO compensation expected to be a point of discussion. CEO Andreas Hoerning received a total remuneration of €1.3 million for 2024, unchanged from the previous year. This figure includes a salary of €350,000, with the remainder made up of performance-linked pay.
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The CEO's total compensation is 65% higher than the industry average for similar-sized speciality retail companies in Germany, where the median is €793,000. Notably, 73% of Hoerning's pay comes from non-salary components, suggesting a strong link to company performance.
Under Hoerning's leadership, Westwing's earnings per share have grown by 47% over the past three years, while revenue rose by 2% in the last year. The company delivered a total shareholder return of 6.3% over the same three-year period.
While the performance data is encouraging, some shareholders may remain cautious about increasing executive pay given the already above-average compensation. The AGM will provide an opportunity for investors to reflect on whether recent gains justify the current remuneration structure.
The final decision could signal whether shareholders prioritise sustained returns or restraint in executive pay amidst moderate overall performance.
Source: www.simplywall.st