Remuneration of the Executive Board
The German law governing the commensurate remuneration of executive board members, VorstAG, came into force in 2009 and requires supervisory boards to ensure that the total salaries of members of executive boards do not exceed remuneration levels considered standard in the industries and markets within which the company operates. In 2015, the Supervisory Board commissioned an independent consultancy to assess whether the salaries of the Executive Board members were in line with the requirements of VorstAG. Kienbaum Management Consultants GmbH was the company appointed to conduct the assessment. This consultancy found the salaries of the Executive Board members to be in line with standard remuneration levels in R. STAHL's market, and made no recommendations for any changes to Executive Board members' remuneration. The Executive Board members' remuneration is additionally assessed once a year to ensure that it continues to be awarded in line with standard market levels.
The remuneration of the Executive Board members is listed in the notes to the Group financial statements in the Annual Report 2018 in accordance with the statutory requirements. The figures are presented for each individual and are broken down into their fixed and variable components.
R. STAHL AG has not launched any share purchase plans or similar security-based incentive schemes, either for the Executive Board or other managerial staff or for the Supervisory Board.