President and CEO’s remuneration
The President and CEO’s compensation consists of base salary, short-term incentive plan and long-term incentive plans. The annual base salary is EUR 456.000, including salary but excluding fringe benefits (car, mobile phone, and insurances). For year 2021, the annual target bonus is 75% of the annual base salary and maximum payment is 90% of the base salary.
The President and CEO participates in the ongoing Performance Share Plans for years 2019–2021, 2020-2022, and 2021-2023. The President and CEO is required to build up the holding of the company’s shares until the value of the holding corresponds to at least 100% of the annual gross base salary.
The President and CEO is provided with a voluntary defined contribution pension, as part of which the Company contributes 20% of the annual base salary. The President and CEO’s service contract will end by the time of the statutory retirement age. The President and CEO and the Company have a notice period of six months. Remuneration upon dismissal by the Company equals annual base salary, in addition to the salary for the six-month notice period.
Updated June 16, 2021