Supervisory Board remuneration
The rules governing the remuneration of Supervisory Board members are based on Article 18 of TUI AG's Charter, which are publicly available on the company's website. In accordance with the provisions of the German Stock Corporation Act, the Annual General Meeting of listed companies must pass a resolution on the remuneration of Supervisory Board members at least every four years. At TUI AG, this was last done at the Annual General Meeting on 25 March 2021 and the remuneration system was adopted with 99.7% approval.
In accordance with the principles and recommendations of the German Corporate Governance Code, the remuneration of the Supervisory Board takes into account the tasks of the Supervisory Board members and the situation of the company. The expected time commitment and practice in comparable companies are also taken into account when determining the remuneration. The remuneration is intended to attract and retain highly qualified members for the Supervisory Board. This should contribute to the efficient work of the Supervisory Board and promote the development of the company.
Remuneration components
The remuneration of the members of the Supervisory Board consists exclusively of non-performance-related components.
Fixed remuneration
Members of the Supervisory Board receive annual remuneration totalling EUR 90,000. The Chairman of the Supervisory Board receives three times this amount and the Deputy Chairman twice this amount.
Committee remuneration
The members of the Presiding Committee and the Audit Committee receive fixed annual remuneration totalling EUR 42,000; the Chairman of the Audit Committee receives three times this amount. The members of the Nomination Committee and the transaction committees set up as required do not receive any corresponding remuneration.
Attendance fees
The members of the Supervisory Board and the members of the Presiding Committee, the Audit Committee and the Nomination Committee receive an attendance fee of EUR 1,000 per meeting, regardless of its form.
Miscellaneous
In the interests of the company, the members of the Supervisory Board are included in a financial loss liability insurance policy. The premiums for this are paid by the company.
