Executive Salaries: How Much Earned the Highest Paid

Boonchai Wedmakawand/Getty Images

Getty Images/boonchai wedmakawand

Santander leads the ranking; bank paid BRL 59 million to its best-paid executive

Santander (SANB11), Vale (VALE3) and Itaú (ITUB4) are the three companies that paid the highest compensation to their executives in 2021, according to data from the Securities and Exchange Commission (CVM) compiled by corporate governance expert Renato Chaves.

In 2009, the body began to require companies to report the total compensation of the board, declaring the lowest and the highest amount – which is normally paid to the CEO or president, but there may be exceptions.

The rule was challenged in court by the Brazilian Institute of Finance Executives of Rio de Janeiro (Ibef-RJ), which obtained an injunction that allowed a group of companies not to provide the information. The legal dispute dragged on for more than a decade until the CVM obtained a decision in 2019 that ordered companies to observe the rule.

In the case of Santander, which ranked 1st, the highest amount was BRL 59 milliona 26% growth compared to 2020. Vale disbursed BRL 55.1 million to its highest-paid executive, while the Itaú paid R$52.9 million.

Eneva (ENEV3), which occupies the fourth position among the 20 companies with the highest remuneration, recorded the highest growth compared to 2020: 195%.

The biggest drop in remuneration, in turn, was for B3 (B3SA3), 16th on the list, with a decline of 52% in the same period.

In the total assessment, which includes 86 companies on the Ibovespa, remuneration grew 31.4% in 2021 compared to the previous year.

Check out the full ranking:

1. Santander (SANB11)

Highest remuneration: BRL 59 million
Comparison with 2020: +26%
Financial sector
CEO: Mario Roberto Opice Leão
Share performance in 2021: 34.4%

2. Voucher (VALE3)

Higher remuneration: BRL 55.1 million
Comparison with 2020: +75%
Sector: Mining
CEO: Eduardo Bartolomeo
Share performance in 2021: -9.1%

3. Itaú Unibanco (ITUB4)

Higher remuneration: BRL 52.9 million
Comparison with 2020: +52%
Financial sector
CEO: Milton Maluhy Filho
Share performance in 2021: -18.8%

4. Eneva (ENEV3)

Higher remuneration: BRL 52.7 million
Comparison with 2020: +195%
Sector: Energy
CEO: Pedro Zinner
Share performance in 2021: -12.5%

5. JBS (JBSS3)

Higher remuneration: BRL 52.6 million
Comparison with 2020: +56%
Sector: Refrigerators
CEO: Gilberto Tomazoni
Share performance in 2021: +71.9%

6. Locate (RENT3)

Higher remuneration: BRL 29.7 million
Comparison with 2020: +52%
Sector: Vehicle rental
CEO: Bruno Lasansky
Share performance in 2021: -25.1%

7. Bradesco (BBDC4)

Higher remuneration: BRL 29.3 million
Comparison with 2020: +23%
Financial sector
CEO: Octavio de Lazari Júnior
Share performance in 2021: -20.9%

8. Cosan (CSNA3)

Higher remuneration: BRL 27.6 million
Comparison with 2020: +145%
Sector: Oil and Gas
CEO: Luis Henrique Guimaraes
Share performance in 2021: +8.23%

9. D’Or Network (RDOR3)

Higher remuneration: BRL 27.2 million
Comparison with 2020: +44%
Sector: Health
CEO: Paulo Moll
Share performance in 2021: -27%

10. Braskem (BRKM5)

Highest remuneration: BRL 24 million
Comparison with 2020: +65%
Sector: Petrochemical
CEO: Roberto Simões
Stock performance in 2021: up 144.5%

11. Ambev (ABEV3)

Higher remuneration: BRL 23.7 million
Comparison with 2020: +43%
Sector: Beverages
CEO: Jean Jereissati
Stock performance in 2021: down 1.5%

12. Suzano (SUBZ3)

Higher remuneration: BRL 22.6 million
Comparison with 2020: +2%
Sector: Pulp and Paper
CEO: Walter Schalka
Stock performance in 2021: up 2.7%

13. Via (VIIA3)

Higher remuneration: BRL 21.4 million
Comparison with 2020: -7%
Sector: Retail
CEO: Roberto Fulcherberger
Stock performance in 2021: down 67.5%

14. Cogna (COGN3)

Higher remuneration: BRL 21.2 million
Comparison with 2020: -35%
Sector: Education
CEO: Rodrigo Galindo (2021)
Stock performance in 2021: down 46.9%

15. Assaí (ASAI3)

Higher remuneration: BRL 20.8 million
Comparison with 2020: +39%
Sector: Retail
CEO: Belmiro Gomes
Stock performance in 2021: down 8.9%

16. B3 (B3SA3)

Higher remuneration: BRL 20.8 million
Comparison with 2020: -52%
Financial sector
CEO: Gilson Finkelsztain
Stock performance in 2021: down 44.5%

17. Qualicorp (QUAL3)

Higher remuneration: BRL 19.9 million
Comparison with 2020: -6%
Sector: Health
CEO: Bruno Blatt
Stock performance in 2021: down 51.5%

18. Marfrig (MRFG3)

Highest remuneration: BRL 19.5 million
Comparison with 2020: -15%
Sector: Food
CEO: Marcos Molina
Stock performance in 2021: up 52.1%

19. CVC (CVCB3)

Higher remuneration: BRL 17.9 million
Comparison with 2020: +3%
Sector: Tourism
CEO: Leonel Dias de Andrade Neto
Share performance in 2021: down 32.2%

20. Course (RAIL3)

Higher remuneration: BRL 17.4 million
Comparison with 2020: +150%
Sector: Industry
CEO: João Alberto Abreu
Stock performance in 2021: down 7.7%

About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

Check Also

Dollar closes down 1.63%, quoted at R$ 5.074; Stock market rises 2.78%

The commercial dollar closed with a drop of 1.63% in this Friday’s session, quoted at …