Siemens CEO Kaeser's 2020 compensation drops a third to 9.3 million euros

ZURICH (Reuters) - Siemens Chief Executive Joe Kaeser saw his compensation package fall by a third in his final financial year as the head of the German engineering company, according to data published on Tuesday.

Kaeser's annual compensation fell to 9.27 million euros (8.31 million pounds) for the company's Oct. 2019- Sept. 2020 financial year, from 14.25 million euros the year before, the compensation section of Siemens's annual report said.

The 63-year-old executive, who is due to step down as CEO in February after seven years in charge, received a lower short-term incentive payment for the 2020 financial year. His 2019 package was also boosted by two stock awards and a bonus award amounting to nearly 8.2 million euros.

When reporting according to the German Commercial Code, Kaeser's package fell to 6.85 million euros from 7.15 million euros.

Deputy CEO Roland Busch, who will take over from Kaeser, saw his compensation package fall from 7.29 million euros to 5.05 million euros for the 2020 business year.

($1 = 0.8343 euros)

(Reporting by John Revill; editing by Brenna Hughes Neghaiwi)