For its part, CEO José Antonio Álvarez received a compensation of 9 million euros, 1% more than the 8.89 million won the previous year.
The president of Banco Santander, Ana Botín, received a total remuneration of 11 million euros in 2018, which represents an increase of 4% compared to the 10.58 million with which it was paid in 2017, according to the entity's annual report .
CEO José Antonio Álvarez received a compensation of 9 million euros, 1% more than the 8.89 million won the previous year, while Rodrigo Echenique, vice-president of the board, received compensation of 5.09 million, 19% higher than the 4.28 million obtained in 2017.
These increases in the pay of Botín, Álvarez and Echenique occur in a year in which the profit of the bank increased by 18% and the dividend per share by 4.5%.
As announced a year ago in 2018, Santander applied a change in remuneration, for which provisions for executive officers' pensions were reduced, while at the same time increasing fixed remuneration and other items. that this variation in the components of remuneration is neutral in total.
In 2019, the president and CEO will maintain the same annual base salary of 3.17 and 2.54 million, respectively. In 2020 and 2021, they may increase this fixed remuneration by a maximum of 5% over the previous year.
Santander's board of directors, made up of 17 members, received 28.91 million euros in 2018, down 9.4% from 31.63 million the previous year.
On the other hand, all senior managers received 60.26 million euros in 2018, down 8.1% from the previous year's 65.58 million. This decrease occurs with one less manager (19 in 2017 versus 18 in 2018).