Remuneration Report Management Board
The Remuneration Report is prepared in accordance with the recommendations of the German Corporate Governance Code from May 5, 2015 (hereinafter referred to as GCGC) and the provisions of the German financial reporting standard in its revised 2011 version no. 17 (DRS 17). It contains the information required and/or recommended by the German Commercial Code (HGB), the GCGC and the International Financial Reporting Standards (IFRS). It is part of the combined Management Report.
The Remuneration Report provides details on the compensation system for the Management and Supervisory Boards as well as the amounts and structure of their compensation. As required by the new GCGC, remuneration of Board members is presented as individual members’ total amounts, broken down into non-performance-based components and one-year and multi-year performance-based components with long-term share-based incentive components. Furthermore, as recommended by the GCGC, the allocation of different compensation components is shown for the year under review.