Didier Leroy, an executive vice president of Toyota Motor Corp., was paid 1.026 billion yen (about 9.37 million dollars) in executive compensation for the business year ending March 2018, up 50 percent from the previous business year and far exceeding the earnings of President Akio Toyoda, according to a financial report disclosed Monday.
Leroy is the first Toyota executive to earn more than 1 billion yen. It is the largest amount paid to a Toyota executive since the business year ending March 2010, when listed companies became obliged to disclose the names of executives who received compensation of 100 million yen or higher in a business year. Companies must also reveal the specific amount of compensation.
Toyoda received 380 million yen (3.47 million dollars) for the business year, up 18 percent from the previous business year and his first increase in three years.
Leroy, a Frenchman, is in charge of the company's business planning and operation, among other responsibilities. There is fierce competition to secure executives in the European and U.S. auto industries, presumably leading Leroy to receive more than twice the executive compensation of the Toyota president.
Overall, five Toyota executives received 100 million yen or more in executive compensation in the business year in question, one fewer than in the previous period.
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