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Annual Report 2018

Compensation approval

The table below shows the approval processes for key compensation decisions:

Compensation item

Proposed

Endorsed

Approved

1

Within the maximum aggregate amount of compensation approved by the AGM.

2

Within the maximum aggregate amount of compensation approved by the AGM and the additional amount available for changes in the Group EC after the AGM as per the Articles of Association respectively.

3

Board of Directors is informed.

Maximum aggregate amount of compensation for the members of the Board of Directors for the next term of office

Compensation Committee

Chairman of the Board of Directors, Board of Directors

AGM

Maximum aggregate amount of fixed compensation and long-term variable compensation for the members of the Group EC

Group CEO

Chairman of the Board of Directors, Board of Directors, Compensation Committee

AGM

Aggregate amount of variable short-term compensation for the members of the Group EC

Group CEO

Chairman of the Board of Directors, Board of Directors, Compensation Committee

AGM

Compensation for the Chairman of the Board of Directors

Compensation Committee

 

Board of Directors1

Individual compensation for the members of the Board of Directors (excl. Chairman of the Board of Directors)

Compensation Committee

Chairman of the Board of Directors

Board of Directors1

Variable short-term compensation pools and long-term incentive pools for the Group and Group EC (excl. Group CEO)

Group CEO

Chairman of the Board of Directors, Compensation Committee

Board of Directors1

Compensation for Group CEO

Chairman of the Board of Directors

Compensation Committee

Board of Directors2

Variable short-term compensation pools for the Control Functions

Group CEO

Compensation Committee, Chairs of the Audit Committee and the Finance and Risk Committee

Board of Directors

Individual compensation for the Heads of the Control Functions

Group CEO

Compensation Committee, Chairs of the Audit Committee and the Finance and Risk Committee

Board of Directors

Individual compensation for the members of the Group EC (excl. Group CEO)

Group CEO

Chairman of the Board of Directors

Compensation Committee2, 3