25 Personnel expenses
In accordance with a plan defined by the Board of Directors, Georg Fischer registered shares are granted to members of the Executive Committee and members of senior management as a long-term financial incentive. Taking into account the registered shares granted to members who left the firm during the year under review, a total of 7,890 shares (previous year: 6,790) were recognized as personnel expenses at their market value of CHF 6.6 million.
