Spanish regulator Comisión Nacional del Mercado de Valores (CNMV) has for the first time revealed the salaries of board members of the companies listed on the Ibex 35, the benchmark stock market index of Bolsa de Madrid (Madrid’s stock exchange).
The Informe Anual de Gobierno Corporativo (IAGC) shows that the salaries of board members throughout 2013 have remained stable or have gone slightly down compared with the previous year.
As the report shows, the average salary per board in 2013 was of €6.7m, roughly €490,000 per member. The CNMV highlighted that the price went down to 4.2% from 6.1% in 2012 per member.
The highest income for board members was said to be coming from their fixed annual compensation, which makes up 55% of the total income. The variable income mainly came from share issues and the exercise of options, respectively 34% and 6%.