pre_text: Executive Director Fixed Pay increases The Committee has approved Fixed Pay increases of 4% for the CEO and 3% for the CFO, effective from 1 January 2020. This is in line with the average increase awarded to the wider Unilever workforce in 2019 of 3.6%. These increases were awarded to recognise the strong leadership of both individuals in 2019, which was Alan Jope’s first year in the CEO role and a year of transformation for Unilever generally. We also wanted to recognise Graeme Pitkethly’s seniority in his role, coming into his 5th year as CFO. When our CEO Alan Jope was appointed on 1 January 2019 he was appointed with Fixed Pay 14% below that of what the Committee proposed for his predecessor and at the lower quartile of our remuneration benchmarking peer group, despite Unilever being one of the largest companies in this peer group. This positioning was intentional, given Alan’s internal promotion on appointment. However, subject to Alan’s continuing good performance the Committee will, over time, continue to review his Fixed Pay positioning and progress this towards the market median benchmark. * MCIP at maximum (67%) investment of bonus.
table: Alan Jope CEO €'000 p.a. Graeme Pitkethly CFO €'000 p.a.
table: 2019 2020 2019 2020
table: Fixed Pay 1,450 1,508 1,103 1,136
table: Annual Bonus 2,175 2,262 1,323 1,363
table: MCIP* Match share award 2,186 2,273 1,330 1,370
table: Target Total Pay 5,811 6,043 3,756 3,869
table: Personal MCIP* Investment in 67% 67% 67% 67%
table: Unilever shares 1,457 1,516 886 913
question: Analyse this data from a financial earnings document. What is the difference in the target total pay between CEO and CFO in 2020?