MOL CEO Salary: Zsolt Hernádi’s Pay Rises 11% to €3.6M in 2025
The compensation of MOL’s chief executive, Zsolt Hernádi, reached approximately 1.45 billion Hungarian Forint in 2025, a figure that, while substantial, pales in comparison to the remuneration of Wael Sawan, the CEO of Shell. This disparity highlights the differing scales of executive pay within the international energy sector, even as Hernádi’s earnings represent a significant sum within the Hungarian context.
Hernádi’s 2025 Compensation Breakdown
According to MOL’s latest compensation report, Hernádi’s total remuneration increased by 11 percent compared to 2024. The 1.45 billion Forint figure encompasses several components:
- 210 million Forint in base salary
- 394 million Forint in short-term bonus (related to both 2023 and 2024 performance)
- 744 million Forint in long-term incentive
- 1.1 million Forint in non-salary benefits
- 99 million Forint in director’s fees
The structure of executive pay within MOL varied considerably. József Molnár saw a 22 percent decrease in total compensation, while József Simola experienced a 20 percent reduction (though his compensation is pro-rated, as he assumed leadership of Mohu on August 15, 2025). Oszkár Világi’s compensation decreased by 1 percent, and György Bacsa’s increased by 5 percent.
Contextualizing Executive Pay at MOL
József Molnár, the company’s general manager, earned 814 million Forint in 2024, comprised of 146 million Forint in base salary, 163 million Forint in short-term bonus, 426 million Forint in long-term bonus, 1 million Forint in non-salary benefits, and 78 million Forint in director’s fees. These figures represent the total compensation associated with each leader’s positions, including roles within the company, board memberships, and relevant positions in affiliated entities.
The Timing of Incentives Influences the Numbers
The timing of incentive payouts significantly influences the annual compensation figures. MOL operates two systems for short-term incentives: the MRP Short-Term Share Ownership Program and cash bonuses. These systems have different payout schedules. The performance metrics for each bonus year similarly differ, leading to substantial variations in annual payouts. The short-term incentives paid out in 2025 were based on corporate performance metrics lower than those used in previous years.
Disparities in International Compensation
Executive compensation in the international energy sector operates on a significantly larger scale. Recent reports indicate that Wael Sawan, Shell’s CEO, earned approximately 6 billion Forint in 2025, despite a decline in the company’s profits. Alfred Stern, CEO of OMV, received approximately 1.6 billion Forint in compensation according to the 2024 report. Christina Verchere, Chairman of the Board of Directors of Romanian OMV Petrom, earned around 702 million Forint in 2024. Murray Auchincloss, CEO of British Petroleum (BP), received approximately 2.5 billion Forint.
The Role of Performance-Based Incentives
According to Vilmos Szabó, Managing Partner at Korn Ferry International, the compensation of top executives at large corporations is always determined by the company’s weight and the global competition. “The incomes that seem unattainable to the average person only seem large at first glance – the top management of large energy companies actually operates according to the logic of the international labor market. Remuneration packages must simultaneously reflect the responsibility of managers and the competition for experienced managers between large companies in the region and Europe,” he stated.
He added that performance-based incentives and stock-based programs are playing an increasingly important role in compensation systems, leading to significant fluctuations in annual payouts.
Impact on the Board and Supervisory Board
The compensation of MOL’s board members decreased by 2.4 percent compared to 2024, attributable to changes in the Euro-Forint exchange rate and the MOL share price. The compensation of the company’s supervisory board members increased by an average of 5.5 percent in 2025. This increase was due to several factors, including changes in the Euro-Forint exchange rate used for payouts, the holding of an extraordinary supervisory board meeting in 2025, and changes in the number of meetings attended by the chairman and vice-chairman.
What’s Next: Regulatory Scrutiny and Shareholder Oversight
The release of these compensation figures will likely draw scrutiny from both regulatory bodies, and shareholders. While executive pay is often tied to company performance, the significant gap between Hernádi’s compensation and that of his peers at larger international firms may prompt questions about the alignment of incentives and the overall value creation strategy at MOL. Further details regarding the performance metrics used to determine bonus payouts will be closely examined during the upcoming shareholder meetings. The company’s annual general meeting will provide a platform for investors to voice their concerns and seek clarification on the rationale behind the executive compensation decisions.