Remuneration Systems
Remuneration System for the Executive Board from fiscal year 2021
With respect to the recommendations of the German Corporate Governance Code as of December 16, 2019, published in the German Federal Gazette on March 20, 2020, and the Act Transposing the Second European Shareholder Rights (ARUG II), the remuneration system for the Executive Board was thoroughly reviewed and further developed in October 2020.
The revised remuneration system applies to all members of the Executive Board in office as of January 1, 2021 and to all new appointments and re-appointments thereafter. The Annual General Meeting of May 19, 2021 approved the remuneration system for the Executive Board with a majority of 84.97% of the votes cast.
Remuneration System for the Supervisory Board
With respect to the recommendations of the German Corporate Governance Code as of December 16, 2019, published in the German Federal Gazette on March 20, 2020, and the Act Transposing the Second European Shareholder Rights Directive (ARUG II), the remuneration system for the Supervisory Board which is mainly determined within the Company’s Articles of Association was thoroughly reviewed in October 2020. The Annual General Meeting of May 19, 2021 adopted the remuneration system for the Supervisory Board with a majority of 99.87% of the votes cast.
The Supervisory Board is responsible for advising and monitoring the Executive Board. By performing this task, the Supervisory Board contributes to the long-term development of the company and promotes the corporate strategy. The remuneration system accounts for this responsibility and the scope of activity of the Supervisory Board members. The attached overview summarizes the remuneration system for the Supervisory Board.
Remuneration Report
The remuneration report for the financial year 2021, together with the auditor's opinion, is available here.
You can download the remuneration reports of the past financial years as PDF files here.