3. Remuneration at a glance
Board of Directors
Summary of current remuneration system
In order to ensure the independence in their supervisory function, members of the Board of Directors (BoD) only receive a fixed remuneration, in the form of cash and shares with a blocking period of four years.
Annual fees |
|
in CHF |
|
Delivery |
|---|---|---|---|---|
Chair |
|
885,000 |
|
Cash and restricted shares |
Vice Chair |
|
245,000 |
|
Restricted shares |
Member of the BoD |
|
190,000 |
|
Restricted shares |
Chair of NCC / Audit Committee |
|
45,000 |
|
Restricted shares |
Member of NCC / Audit Committee |
|
30,000 |
|
Restricted shares |
Expense allowance |
|
15,000 |
|
Cash |
See also 5. Remuneration architecture, 5.1 Board of Directors.
Remuneration in 2021
The remuneration awarded to the Board of Directors for the term of office until the Annual General Meeting 2021 is within the limits approved by the shareholders at the Annual General Meetings:
Comparison period |
|
Approved amount (CHF) |
|
Effective amount (CHF) |
||||
|---|---|---|---|---|---|---|---|---|
AGM 2020–AGM 2021 |
|
2,350,000 |
|
2,293,950 |
||||
AGM 2021–AGM 2022 |
|
2,350,000 |
|
2,295,708 1 |
||||
|
||||||||
Group Executive Board
Summary of current remuneration system
The remuneration of the Group Executive Board consists of fixed and variable elements. Base salary and benefits form the fixed remuneration and are based on prevalent market practice. Variable remuneration drives and rewards best-in-class performance based on ambitious targets. It consists of short-term and long-term elements:
Base salary |
|
Pay for the function |
|
|
|
Fixed remuneration |
|---|---|---|---|---|---|---|
Benefits |
|
Cover retirement, death and disability risks, attract and retain |
|
|
|
|
Short-Term Incentive (STI) |
|
Drive and reward performance, attract and retain |
|
|
|
Variable remuneration |
Share Participation Programme (MSPP) |
|
Align with shareholders’ interests |
|
|
|
|
Long-Term Incentive (Share Option Plan/MSOP) |
|
Drive and reward long-term performance, align with shareholders’ interests, attract and retain |
|
|
|
See also 5. Remuneration architecture, 5.2 Group Executive Board.
Remuneration in 2021
The remuneration awarded to the Group Executive Board in the financial year 2021 is within the limits approved by the shareholders at the Annual General Meeting:
Comparison period |
|
Approved amount (CHF) |
|
Effective amount (CHF) |
|---|---|---|---|---|
Financial year 2021 |
|
11,500,000 |
|
10,715,225 |
Performance in the financial year 2021
All Short-Term Incentive targets for the GEB, including individual targets, were exceeded.
See also 7. Group Executive Board, 7.1 Performance in 2021.
Remuneration governance
- Authority for decisions related to remuneration is governed by the Articles of Incorporation and the Organisational Regulations of Geberit AG.
- The prospective maximum aggregate amounts of remuneration of the members of the Board of Directors and of the Group Executive Board are subject to a binding shareholders’ vote at the Annual General Meeting.
- The Remuneration Report for the preceding period is subject to a consultative vote.
See also 4. Determination of remuneration.