So how much can Dominique Leroy make at KPN?

On Saturday Dominique Leroy’s departure as Proximus CEO was brought forward to the end of the new working week.  The boss of the Belgian telecom giant is joining its Dutch rival.  Ms Leroy will make more cash, possibly a lot more, a letter to KPN shareholders reveals.

KPN is convening an extraordinary general meeting.  The invitation explains that if bonuses are included KPN’s new executive could make up to 3 million euros!

Ms Leroy’s new basic pay is 935,000 euros.  In response to shareholders demands KPN now adds that her ‘variable short term cash reward’ is worth 90% of her basic salary, if she meets her goals, while her ‘variable long term reward’, based on conditional shares is 135% of basic salary, if all goals are met. Both rewards rely on KPN’s financial and non-financial performance.

Basic salary plus all rewards, if all goals are met, rises to 3,038,750 euros, while at Proximus she was only making 940,546 euros per year bonuses included.