Annual Report 2022

Annual Report 2022

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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) 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 2022

The remuneration awarded to the Board of Directors for the term of office until the Annual General Meeting 2022 is within the limits approved by the shareholders at the Annual General Meetings:

Comparison period

 

Approved amount (CHF)

 

Effective amount (CHF)

AGM 2021–AGM 2022

 

2,350,000

 

2,295,708

AGM 2022–AGM 2023

 

2,350,000

 

2,288,612 1

1

As the remuneration period is not yet completed, the final amount (including social security contributions) will be included in the Remuneration Report for the financial year 2023.

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)
(variable remuneration)

 

Drive and reward performance, attract and retain

 

 

 

Variable remuneration

Share Participation Programme (MSPP)

 

Align with shareholders’ interests

 

 

 

Long-Term Incentive
(Stock Option Programme/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 2022

The remuneration awarded to the Group Executive Board in the financial year 2022 is within the limits approved by the shareholders at the Annual General Meeting:

Comparison period

 

Approved amount (CHF)

 

Effective amount (CHF)

Financial year 2022

 

11,500,000

 

9,436,328

Performance in the financial year 2022

The weighted average of all elements used to calculate the variable remuneration exceeded the targets.

See also 7. Group Executive Board, 7.1 Performance in 2022.

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.