Galp paid millionaire bonus to CEO who left after reporting affair with director

Despite having resigned at the beginning of 2024 due to a controversy surrounding a relationship with a director, Filipe Silva won more than one million euros that year in prizes.

The former executive president of Galp Energia, Filipe Silva, received more than one million euros in total remuneration for 2024, despite having resigned at the beginning of the year. The information is contained in the report and accounts released by the company on March 23.

According to the document consulted by , the manager earned just 15.8 thousand euros in fixed salary for the days worked in 2024, after leaving office on January 8th. However, the largest portion of income resulted from accumulated premiums from previous years, with a total received of 1,042,292 euros, with around 98% coming from variable incentives.

Filipe Silva’s departure occurred after an internal complaint that pointed to a situation of conflict of interests related to a romantic relationship with a director who was her subordinate within the company. The case was analyzed by Galp’s ethics committee, which did not disclose public conclusions nor respond to the workers’ committee, keeping the matter shrouded in discretion.

Despite the investigation, there was no known impact on the awarding of prizes already purchased. In similar contexts, in other international companies, irregular situations have led to reduction or refund of bonusespecially when conduct that is harmful to the organization is proven. In the case of Galp, however, no measures of this type were announced.

After leaving, the company’s leadership was ensured by a pair of co-CEOs, Maria João Carioca and João Diogo Silva. Both saw their fixed annual remuneration increase to 737 thousand eurosstill below the approximately 980 thousand euros that Filipe Silva received in base salary before his resignation.

In total, the remunerations of current and former members of the executive committee approached nine million eurosrising to around ten million when including non-executive directors.