6 Compensation of the Executive Committee for 2019
For the 2019 financial year, the members of the Executive Committee received total compensation of CHF 7.2 million compared with CHF 8.1 million the year before. This complied with the maximum total compensation for the Executive Committee of CHF 8.2 million approved at the AGM in April 2018.
The target achievement value of the STI for all members of the Executive Committee was between 48.4% and 84.8% and the target value of the reported earnings per share (EPS), which determines the cash value of the share allocation for the 2019 financial year, was 85.6%.
For the 2019 financial year, the members of the Executive Committee will receive 800 shares from the ordinary LTI scheme. The shares will be allocated after the Annual General Meeting at a price of CHF 1,052.15, the average share price from November 1, 2019, to January 31, 2020, with a discount of 10%. Because of the lower LTI target achievment (EPS) and the higher share price, fewer shares were allocated compared with the previous year. The allocated shares will remain restricted for four years. Information on the shareholdings of members of the Executive Committee can be found in the Notes to the financial statements of Conzzeta AG.
In addition, the Board of Directors approved a retention plan for the members of the Executive Committee, business unit management and other specialists in connection with the strategic realignment. However, payment will only be made on the fixed reference date if predefined criteria are met, which include an employment contract without notice of termination, the achievement of agreed annual targets and active participation in the strategic reorientation. For the year 2019, the Group CEO and the heads of the business units still to be divested were awarded a pro rata amount of CHF 0.8 million, allocated to the 2019 financial year and reported in the STI.
As of December 31, 2019, there were no current loan or credit contracts between the company and the members of the Executive Committee or related parties.
Compensation of the Executive Committee for financial year 2019
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Base salary |
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STI 1 |
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LTI |
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Pension contribution 1 + 2 pillar |
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Additional benefits |
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Total compensation 2019 |
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CHF thousand |
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CHF thousand |
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CHF thousand |
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CHF thousand |
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CHF thousand |
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CHF thousand |
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Executive Committee |
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Total compensation of the Executive Committee |
3,170.0 |
|
2,012.1 |
|
853.3 |
|
901.1 |
|
234.9 |
|
7,171.4 |
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Highest single amount: Group CEO, M. Willome |
761.1 |
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502.1 |
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290.4 |
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202.2 |
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36.0 |
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1,791.7 |
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1 Incl. retention bonus of CHF 0.8 million.
Compensation of the Executive Committee for financial year 2018
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Base salary |
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STI 1 |
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LTI 2 |
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Pension contribution 1 + 2 pillar |
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Additional benefits |
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Total compensation 2018 |
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CHF thousand |
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CHF thousand |
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CHF thousand |
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CHF thousand |
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CHF thousand |
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CHF thousand |
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Executive Committee |
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Total compensation of the Executive Committee |
3’259.4 |
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1’815.9 |
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1’822.4 |
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918.3 |
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248.7 |
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8’064.8 |
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Highest single amount: Group CEO, M. Willome |
718.0 |
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500.2 |
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419.8 |
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203.3 |
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36.0 |
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1’877.3 |
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1 Incl. special allocation to the Head of the business unit Bystronic.
2 Incl. setoff of the total compensation paid to the head of the business unit FoamPartner on account of the expired share-based compensation from the previous employer.