The Board of Management is in charge of operations. It comprises three members and is overseen by the Supervisory Board in accordance with the statutory requirements and the articles of incorporation. The members of the Board of Management and Supervisory Board are listed in the “Corporate Bodies” section. The Declaration of Compliance pursuant to Section 161 of the German Stock Corporation Act, as well as further explanatory notes, can be found in the separate Corporate Governance Report, which forms part of this Annual Report. The Remuneration Report contains the itemised remuneration by individual member of the Board of Management and Supervisory Board of technotrans AG, as well as particulars of fringe benefits provided by the company for each individual member. The basic features of the remuneration system are also explained there.
The company moreover provides fringe benefits (insurance premiums) in the form of contributions to a provident fund and a group accident insurance policy. In addition, company cars are available to the members of the Board of Management and they are reimbursed travel and other allowable expenses. The policies for the D&O insurance cover taken out by the company for the Board of Management members envisage an excess amounting to one and a half times the fixed annual income.
There is also a cap on termination indemnities amounting to a maximum of one year’s salary.
The overall remuneration of each Board of Management member is approved by the Supervisory Board. No share-based payment components were envisaged for the 2014 financial year. The level of target attainment in the 2014 assessment year was 100 percent according to the target agreement (previous year: 60.7 percent). Only in the event of exceptional occurrences is the Supervisory Board authorised to adjust the remuneration parameters in the course of a given year.
The members of the Board of Management received the following remuneration in the past financial year:
|Henry Brickenkamp||Dirk Engel||Dr. Christof Soest|
|Fixed basic remuneration||200||200||160||160||160||160|
|Management bonus, year under review||176||145||140||116||140||94|
|Entitlement dependent on
the attainment of future
In addition to the total remuneration stated for the Supervisory Board, the employees’ representatives on the Supervisory Board receive remuneration in their capacity as employees, on the basis of their contracts of employment, and also receive share-based payments.
In accordance with the articles of incorporation the Supervisory Board members received the following remuneration for the year under review of 2014:
|Dr. Norbert Bröcker||27||15||12||23||15||8|
|Reinhard Aufderheide 1||16||8||8||8||5||3|
|Thomas Poppenberg 1||16||8||8||8||5||3|
|Klaus Beike 2||0||0||0||5||3||2|
|Matthias Laudick 2||0||0||0||5||3||2|
|1 since May 16, 2013, 2 until May 16, 2013|