Short-Term Incentive Program of the Management Board
The Short-Term Incentive Program is based upon the short-term operational performance, which includes three sets of Performance Indicators as noted below:
- Profitability;
- Growth;
- Sustainability Performance.
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 2021 or 2020.
For 2021 (equal to 2020), the Supervisory Board concluded that the Company’s performance indicators had outcomes ranging from threshold to maximum. For the year 2021 a total of seven performance indicators were established (2020: seven). The Company’s performance resulted in performance of 133% (2020: 122%) of salary for the CEO and 100% (2020: 92%) for the other Management Board members.