The remuneration of Guillaume Faury, CEO of Airbus, is regularly the subject of debates during the group’s general meetings. Understanding the structure of this remuneration requires examining the specific criteria that determine each component, from the fixed salary to performance shares linked to financial and climate objectives.
Climate Criteria in the Variable Remuneration of an Aerospace CEO
Most analyses of executive pay in the aerospace sector focus on the overall amount. The internal distribution of performance criteria tells a different, more technical story.
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Guillaume Faury’s long-term variable remuneration, primarily composed of performance shares, is based on a weighting grid that gives significant importance to CO₂ emission reduction targets. According to the remuneration policy published by Airbus, this grid breaks down as follows: approximately 40% linked to EBIT, approximately 40% to net cash flow, and approximately 20% related to sustainability criteria, particularly the eco-efficiency of the fleet.
A document detailing the salary increase of Guillaume Faury highlights how these extra-financial criteria impact the CEO’s actual remuneration, beyond just the displayed level.
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This 40/40/20 weighting reflects a trade-off: shareholders accept that a portion of the CEO’s remuneration depends on results that are not immediately monetizable, such as the group’s carbon trajectory. In an industry where decarbonization remains a major industrial challenge, this choice is not trivial.
Fixed and Variable Remuneration at Airbus: Comparative Structure
To measure the real impact of a salary increase, it is necessary to distinguish the components. The remuneration of a CEO like Guillaume Faury is not summed up in a single figure reported in the press. It is broken down into several blocks, each subject to distinct rules.
| Component | Determination Criteria | Indicative Weighting |
|---|---|---|
| Fixed Salary | Decision of the Board of Directors | Contractual Base |
| Annual Bonus (Short-term Variable) | Annual Financial and Operational Objectives | Linked to the results of the fiscal year |
| Performance Shares (Long-term Variable) | EBIT, cash flow, sustainability | 40% / 40% / 20% |
The annual bonus depends on short-term operational performance. Performance shares, on the other hand, only materialize after several years, linking the CEO’s remuneration to the group’s structural results.
The long-term variable constitutes the most determining part of the total remuneration. It is this component that fluctuates the most from year to year and explains the sometimes spectacular variations in the overall amount.
Airbus Financial Results and Impact on CEO Salary
In 2023, the group reported results described as record-breaking by management. Here are some benchmarks from the official press release:
- 735 commercial aircraft delivered, a historic volume for the civil aircraft division
- Revenue of €65.4 billion and adjusted EBIT of €5.8 billion
- Free cash flow (before mergers and acquisitions) of €4.4 billion, with a net cash position of €10.7 billion
- Record results also for Airbus Helicopters and the Atlantic division
These figures are not anecdotal for the CEO’s remuneration. Since EBIT and cash flow account for 80% of the criteria for long-term variable remuneration, such a strong year mechanically translates into an increase in Guillaume Faury’s actual remuneration. The link is arithmetic, not discretionary.
Guillaume Faury himself commented on these results, highlighting their “remarkable nature given the complexity of the operational context.” The reference to supply chain tensions and rising production costs allows for measuring the level of achievement of the objectives set by the Board of Directors.
Airbus Shareholder Vote on Remuneration Policy
The amount of the CEO’s remuneration is not simply an internal decision. Each year, during the general meeting, shareholders vote on the remuneration policy for executives through a consultative vote, sometimes binding depending on the resolutions.
The information notice published by Airbus before the 2024 meeting details the components subject to the vote. The Board of Directors, chaired by René Obermann, presents the objectives achieved and the grid applied. Shareholders vote on past remuneration and on future policy, creating a dual governance lock.
This mechanism explains why unions react to announcements of the CEO’s remuneration during internal salary negotiations. The FO union has thus published the group’s financial results as “preliminary to salary negotiations,” comparing record performances with employee demands. The perceived gap between the increase in the CEO’s remuneration and that of employees fuels an ongoing debate in the aerospace sector.
Airbus Governance and Reappointment of Guillaume Faury
The Board of Directors has proposed the reappointment of Guillaume Faury at the head of the group, a signal of confidence that logically accompanies a renegotiation of the remuneration conditions. This reappointment implicitly validates the CEO’s trajectory on both financial criteria and sustainability objectives.
The remuneration structure adopted by Airbus reflects a broader trend in the governance of European aerospace groups: indexing an increasing portion of the variable on measurable extra-financial criteria. The 20% dedicated to sustainability at Airbus serves as a benchmark in the sector, even if other industrial groups have not yet crossed this threshold.
The increase in Guillaume Faury’s salary at Airbus should not be read as a simple percentage increase. It results from a mechanism where the group’s financial performance, the climate objectives achieved, and the shareholders’ vote interact. As long as Airbus’s results remain at this level, the upward trend in this remuneration has little reason to reverse.