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;
- Health, Safety, Social and Environment (HSSE).
The Supervisory Board may adjust the outcome of the STI down by 10%. Any such adjustment would be be reported in the Remuneration Report. No such reduction has been made for 2020 or 2019.
For 2020 (equal to 2019), the Supervisory Board concluded that the Company’s performance indicators had outcomes ranging from below threshold to maximum. For the year 2020 a total of seven performance indicators were established (2019: seven). The Company’s performance resulted in performance of 122% (2019: 115%) of salary for the CEO and 92% (2019: 86%) for the other Management Board members.