50. Management Board and Supervisory Board
Remuneration of members of the Management Board in financial year 2016/17
The remuneration of the active members of the Management Board essentially consists of a fixed salary, a short-term performance-based remuneration component (short-term incentive and special bonuses), as well as the performance-based remuneration component with a long-term incentive effect (long-term incentive) granted in financial year 2016/17.
The short-term incentive for members of the Management Board is essentially determined by the development of financial performance targets related to that financial year and also considers the attainment of individually set targets.
The remuneration of the active members of the Management Board in financial year 2016/17 amounted to €5.9 million. This includes €1.1 million in fixed salaries, €1.1 million in short-term performance-based remuneration, €3.7 million in share and performance-based remuneration with a long-term incentive effect and €0.02 million in non-cash benefits.
The share and performance-based remuneration component with long-term incentive effect granted in financial year 2016/17 (performance share plan) was recognised at the fair value as of the date granted. The number of conditionally allocated performance shares amounts to a total of 266,629 units.
In financial year 2016/17, value adjustments resulted from the current tranches of performance-based payment programmes with a long-term incentive effect. The company’s expenses amounted to €0.27 million for Mr Koch, €0.14 million for Mr Baier, €0.16 million for Mr Boone and €0.2 million for Mr Hutmacher.
As of 30 September 2017, the provisions for the members of the Management Board totalled €0.77 million. Of this amount, €0.27 million was attributable to Mr Koch, €0.14 million to Mr Baier, €0.16 million to Mr Boone and €0.2 million to Mr Hutmacher.
Expenses and provisions were determined by external experts using a recognised financial mathematical procedure.
- For §314 Section 1 No. 6a sentence 5–8 of the German Commercial Code (HGB), see chapter 6 remuneration report in the combined management report.
Remuneration to members of the Supervisory Board
The total remuneration paid to all members of the Supervisory Board in financial year 2016/17 amounts to €0.8 million.
- For more information about the compensation of the members of the Supervisory Board, see chapter 6 remuneration report in the combined management report.