Göppingen The board of management of the software provider Teamviewer continued to earn very well last year, despite the share price slump and a halving of profits. The total remuneration of CEO Oliver Steil was 22.1 million euros, as was clear from the annual report of the Göppingen Group on Wednesday.
Although this was significantly less than in the previous year with 72.9 million euros, it is still likely to be one of the highest executive salaries in Germany. By way of comparison, Volkswagen CEO Herbert Diess received a salary of just over EUR 10.3 million last year, including pension entitlements.
In the case of TeamViewer management, agreements with the former sole owner, the financial investor Permira, come into effect. Steil and Chief Financial Officer Stefan Gaiser successfully listed the company on the stock exchange in September 2019. At Steil, around EUR 21.1 million of the 2021 remuneration will come from Permira’s cash fund in the form of share transfers.
Chief Financial Officer Gaiser’s total compensation in 2021 was 11.2 million – also significantly less than in 2020 with around 36.8 million euros. With 10.6 million euros, a large part of it also comes from share transfers from Permira.