Daimler CEO Zetsche Gets a 1.2% Pay Raise

Daimler AG CEO Dieter Zetsche's compensation package for 2013 has increased to as much as €8.3 million from €8.2 million in 2012 after the company's vehicle sales surged 11% to a record 1.46 million units last year.

Zetsche's compensation consists of €2 million in base pay, a short-term bonus of €1.7 million, a medium-term bonus worth as much as €1.7 million and variable long-term compensation that include stock options.

Wolfgang Bernhard, who took over as head of truck operations last spring, received €3 million in 2013, down 0.7% from his pay the previous year when he was head of manufacturing and purchasing the Mercedes-Benz Cars unit.

Hubertus Troska, who leads Daimler's China business unit, received €3 million last year. CFO Bodo Uebber's pay was unchanged at €3.5 million.

Combined compensation for the Daimler board grew 11% last year, mainly because Troska was added as a member. Base pay for the other board members increased 0.1% to €3 million. The short-term bonus pool for the board grew 31% to nearly €6.1 million.

The increases in 2013 follow executive pay cuts in 2012 when the company missed its profit target.