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 2023 or 2022.
For 2023 (equal to 2022), the Supervisory Board concluded that the Company’s performance indicators had outcomes ranging from threshold to maximum. For the year 2023, a total of ten performance indicators were established (2022: seven). The Company’s performance resulted in performance of 120% (2022: 85%) of salary for the CEO and 90% (2022: 64%) for the other Management Board members.