Remuneration structure

Target total remuneration

The remuneration of the members of the Executive Board consists of fixed and variable components. Fixed components are the monthly salary, fringe benefits and the company pension scheme. Variable components are the Short Term Incentive (STI) and the Long Term Incentive (LTI). The Supervisory Board sets a target total remuneration for each member of the Executive Board that is commensurate with the tasks and performance of the Executive Board member and the situation of the company. The target total remuneration is made up of the sum of all remuneration components. For the STI and the LTI, the target amount is based on 100% target achievement.

Around 36% of the CEO's remuneration consists of fixed components and around 64% of variable components. The STI accounts for around 40% and the LTI for around 60% of the variable remuneration. For the other members of the Executive Board, the proportion of fixed remuneration is around 40-45% and that of variable remuneration around 55-60%. The STI accounts for around 35-38% of variable remuneration and the LTI for around 62-65%. The proportions of fixed and variable remuneration may vary in future financial years, in particular due to developments in service costs as part of the company pension scheme, the cost of contractually agreed fringe benefits and any new appointments.