Compensation at a glance

Compensation for the Board of Directors

Compensation model

In order to ensure independence in their supervisory function, the Members of the Board of Directors receive fixed compensation only, delivered in cash and shares blocked for five years. 

Responsibility

 

Fee

 

Shares

Board Membership

 

CHF 70’000

 

150 shares

Board Chairmanship

 

CHF 200’000

 

150 shares

Board Vice-Chairmanship 1

 

CHF 22’500

 

 

Audit Committee Chairmanship

 

CHF 80’000

 

 

Audit Committee Membership

 

CHF 30’000

 

 

Other Committee Chairmanship

 

CHF 40’000

 

 

Other Committee Membership

 

CHF 20’000

 

 

1 As of 18 April 2019, the additional fee for Board Vice-Chairmanship was discontinued

The compensation system for the Board of Directors does not contain any performance-related components.

Compensation awarded in 2019

The compensation awarded to the Board of Directors for the period from the Annual Shareholders’ Meeting 2018 to the Annual Shareholders’ Meeting 2019 is within the limits approved by the shareholders:

Compensation period

 

Amount approved

 

Effective amount

2018-2019

 

CHF 3’750’000 1

 

CHF 2’540’000 2

2019-2020

 

CHF 3’750’000 1

 

n/a 3

1 Based on a share value of CHF 1’600.00

2 Based on a share value of CHF 786.50 for the period in 2018 and CHF 983.00 for the period in 2019

3 Compensation period not yet completed; a conclusive assessment will be provided in the Compensation Report 2020

Compensation for the Executive Committee

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Compensation elements

 

Purpose

 

Vehicle

 

Period

 

Performance measure

Fixed compensation

 

 

 

 

 

 

 

 

Fixed base salary

 

Pay for the function

 

Cash

 

Monthly

 

Skills, experience and individual performance

Benefits

 

Ensure protection against risks such as death, disability and old age

 

 

 

 

 

 

Variable compensation

 

 

 

 

 

 

 

 

Short-term incentive (STI)

 

Pay for annual performance based on GF strategic targets

 

Cash

 

Annual

 

Organic sales growth EBIT margin ROIC Individual objectives

Long-term incentive (LTI)

 

Pay for long-term performance Align with shareholders’ interests and GF’s strategy Participate in long-term success of the company

 

Performance shares

 

3-year vesting + additional 2-year blocking

 

EPS rTSR

Performance in 2019

Increased targets and a lower financial performance of the Corporation and the divisions in 2019 compared to 2018 resulted in a lower STI payout:

 

 

2019 STI payout

CEO

 

89% of target; 59% of maximum

EC

 

64% – 130% of target; 43% – 86% of maximum

Compensation awarded for 2019

The compensation awarded to the Executive Committee (including CEO) for 2019 is within the limits approved by the shareholders at the 2018 Annual Shareholders’ Meeting:

Compensation period

 

Amount approved

 

Effective amount

2019

 

CHF 10’531’000

 

CHF 7’488’000

CEO Compensation for 2019

Amounts in CHF 1’000

Executive Committee Compensation for 2019

Amounts in CHF 1’000

Compensation principles

The compensation policy applicable to the Executive Committee is designed to attract, motivate, and retain talented individuals, along the following principles:

Compensation governance

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