Short-Term Incentive Program of the Management Board
The Short-Term Incentive Program is based upon short-term operational performance, which includes three sets of performance indicators, as noted below:
- Profitability;
- Growth;
- Sustainability.
The Supervisory Board may adjust the outcome of the STI down by 10%. Any such adjustment would be reported in the Remuneration Report. No such reduction has been made for 2024 or 2023.
For 2024 (equal to 2023), the Supervisory Board concluded that the Company’s performance indicators had outcomes ranging from threshold to maximum. For the year 2024, a total of nine performance indicators were established (2023: ten). The Company’s performance resulted in performance of 126% (2023: 120%) of salary for the CEO and 94.5% (2023: 90%) for the other Management Board member(s).