400,000 to 610,000 euros salary for ÖBAG boss Schmid

The controversial ÖBAG boss Thomas Schmid earns between 400,000 and 610,000 euros annually – the latter with a success bonus if the company goals are exceeded. This emerges from the “top secret board contract”, the content of which is the daily newspaper Austria published on Sunday. The decision as to whether his contract will be extended by two years must therefore be made at the end of September of this year.

Since chats with Chancellor Sebastian Kurz and Finance Minister Gernot Blümel (both ÖVP) became known about his appointment as sole director of ÖBAG, Schmid has come under massive public criticism. The opposition parties see their allegations of post cheating and friendship in the ÖVP confirmed – and have called a special session of the National Council for Friday.

There you can also talk about Schmid’s – well endowed – contract. Fixed in it are loud Austria 400,000 euros gross base salary annually – significantly more than Federal President Alexander Van der Bellen, who is at the top of the politician salary pyramid, with 316,650 euros.

In addition, however, there are two bonuses: If ÖBAG under Schmid fulfills the company’s goals 100 percent, he is entitled to an additional 35 percent – that makes 540,000 euros per year. And if 150 percent of the company’s goals are met, you’ll get a 52.5 percent bonus, a total of 610,000 euros.

Big leap in salary for Schmid

For Schmid it was a big leap in salary: As Secretary General in the Ministry of Finance, he earned “only” 154,000 euros per year. A predecessor Schmid had loud Austria However, an even better contract: The former ÖIAG boss Peter Michaelis received 700,000 euros per year.

As head of ÖBAG, Schmid is also entitled to a company car with a leasing rate of a maximum of 500 euros per month. He currently uses a “pool car”, writes the newspaper. According to the contract, he can take business trips in 1st class on the train, in business class he only flies on flights beyond the three hours.

Schmid signed the contract on March 27, 2019 and started work on the 29th. The contract runs for three years, so until March 28, 2022. But the decision on the extension is due at the end of September this year.

If the opposition has its way, it does not come to that – because the SPÖ, FPÖ and NEOS are all calling for Schmid’s resignation. He is also one of a dozen prominent accused against whom the WKStA is investigating in connection with the appointment of FPÖ man Peter Sidlo to the casino board. As a result, the corruption prosecutor confiscated his cell phone in November 2019 and restored deleted messages.


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