3. Remuneration paid in the 2014 financial year
3.1 Remuneration paid to the members of the Board of Directors
The six members of the Board of Directors received fixed remuneration totalling CHF 0.47 million (2013: CHF 0.55 million).
Name | Title |
| 2014 |
| 2013 |
|
|
| CHF million |
| CHF million |
Dr. Thomas Lustenberger | Chairman |
| 0.15 |
| 0.15 |
Dr. Ralph-Thomas Honegger | Vice Chairman |
| 0.08 |
| 0.08 |
Dr. Jakob Baer | Member up to 28 March 2014 |
| – |
| 0.08 |
Albert Leiser | Member |
| 0.08 |
| 0.08 |
Olivier Steimer | Member |
| 0.08 |
| 0.08 |
Peter Spuhler | Member |
| 0.08 |
| 0.08 |
Bruno Bettoni | Member from 28 March 2014 |
| 0.00 |
| – |
Total remuneration |
|
| 0.47 |
| 0.55 |
3.2 Remuneration paid to the members of Group Management
The total remuneration paid to the members of Group Management increased by 31% year-on-year to CHF 4.38 million (2013: CHF 3.35 million). This change reflects an increase in the number of members of Group Management to six in the previous year (2013: 5.4 members) as well as the higher performance bonuses paid in light of the above-budget operating net profit reported for the 2014 financial year.
At CHF 1.29 million, the highest total remuneration was paid to Chief Executive Officer Bruno Bettoni, as was the case in the previous year (2013: CHF 1.16 million). The remuneration received by him and that received by the other members of Group Management is broken down as follows:
|
|
| 2014 |
|
| 2013 |
|
| CHF million | Share |
| CHF million | Share |
Bruno Bettoni, Chief Executive Officer |
|
|
|
|
|
|
Fixed basic salary |
| 0.62 | 50% |
| 0.64 | 55% |
Employer’s contributions management pension plan |
| 0.00 | 0% |
| 0.06 | 5% |
Variable bonus in form of cash payment |
| 0.61 | 47% |
| 0.40 | 35% |
Variable remuneration in form of shares1 |
| 0.06 | 3% |
| 0.06 | 5% |
Total remuneration |
| 1.29 | 100% |
| 1.16 | 100% |
Other members of Group Management |
|
|
|
|
|
|
Fixed basic salary |
| 1.52 | 49% |
| 1.32 | 60% |
Employer’s contributions management pension plan |
| 0.27 | 9% |
| 0.22 | 10% |
Variable bonus in form of cash payment |
| 1.17 | 38% |
| 0.56 | 26% |
Variable remuneration in form of shares [1] |
| 0.13 | 4% |
| 0.09 | 4% |
Total remuneration |
| 3.09 | 100% |
| 2.19 | 100% |
[1]Calculated at the market value on date of allocation
Of the total remuneration of CHF 4.38 million paid to members of Group Management for the 2014 financial year, fixed remuneration (basic annual salary and contributions to pension funds) accounted for 56%, while the variable component of pay (performance bonus, function bonus and shares) accounted for 44% (2013: 60%/40%). The variable component amounted to between 30% and 52% of the total remuneration, depending on the member of Group Management.
Total variable bonuses for all members of Group Management worth CHF 1.78 million (2013: CHF 0.96 million) are broken down into performance bonuses of CHF 1.31 million and function bonuses of CHF 0.47 million (2013: 0.51 million/0.46 million) and were calculated in accordance with the principles described in 2.3 above.