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BERLIN (Reuters) – Siemens paid its chief executive Joe Kaeser a total of 7.82 million euros ($8.82 million) during its 2018 financial year, the German engineering company said in its annual report on Wednesday, up from 7.65 million euros a year earlier. The figure takes into account all different forms of reward, including Kaeser’s fixed salary as well as elements of stock-based compensation at their value on the grant date bvlgari cufflinks replica uk sale. The salary increase of roughly 160,000 euros comes as Siemens reported a decrease in net profit to 5.81 billion euros during 2018, a year in which Kaeser unveiled a new strategy to make the trains-to-turbines maker more nimble and profitable..
Kaeser, who has led Siemens since 2013, unveiled a new plan which will trim the number of Siemens’ industrial businesses to three from five and give them more autonomy. During 2018 the company has been battling a severe downturn in its power and gas business and floated part of its Healthineers medical business bvlgari cufflinks replica uk sale. The annual report also confirmed the company’s outlook for 2019 and its expectations to close the planned trains unit merger with France’s Alstom (ALSO.PA) in the first half of 2019..
PARIS (Reuters) – The arrest of Renault-Nissan boss Carlos Ghosn has triggered new attempts by the Japanese carmaker to shake off the control of its French parent – adding to the problems piling up on President Emmanuel Macron’s desk in the Elysee Palace. But this one, more than most, may be of Macron’s own making bvlgari cufflinks replica uk sale. In April 2015, as a 37 year-old economy minister with then-unknown presidential ambitions, Macron ordered a surprise government stake increase in Renault, designed to secure double voting rights for the state. The overnight move profoundly rattled the Japanese end of the Renault-Nissan alliance..
In the ensuing eight-month boardroom fight between Macron’s ministry and Hiroto Saikawa – Nissan’s second-in-command at the time – many now see the seeds of today’s crisis. When Ghosn’s Gulfstream touched down in Tokyo on Nov bvlgari cufflinks replica uk sale. 19, prosecutors were waiting. Nissan, the company he rescued from bankruptcy and had overseen for almost two decades, outlined allegations of financial misconduct against its chairman and said governance had been eroded by Renault’s control. Saikawa has since contested Renault’s right to appoint executives and directors under the alliance master agreement, in correspondence seen by Reuters. Such fundamental differences now threaten the future of the partnership, which rivals Volkswagen and Toyota on the global auto industry stage..
“President Macron himself has skin in the game,” Max Warburton, an analyst with New York-based asset manager AllianceBernstein, said this week. “He must recognize that his decision in 2015 to increase the French state’s holding in Renault .. likely impacted Japanese perceptions of the alliance and heightened concerns that Nissan was ultimately within the control of the French government.” bvlgari cufflinks replica uk sale. The Elysee declined to comment, but an adviser said the president had “no regrets” about the events of 2015..