3. Remuneration paid in the 2015 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 0.70 million (2014: CHF 0.47 million), of which CHF 0.15 million was paid out to Bruno Bettoni in the 2015 financial year for project-related work.
Name | Title |
| 2015 |
| 2014 |
|
|
| CHF million |
| CHF million |
Dr. Thomas Lustenberger | Chairman |
| 0.15 |
| 0.15 |
Dr. Ralph-Thomas Honegger | Vice Chairman |
| 0.08 |
| 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 |
| 0.23 |
| 0.00 |
Total remuneration |
|
| 0.70 |
| 0.47 |
3.2 Remuneration paid to the members of Group Management
The total remuneration paid to the members of Group Management decreased by 15% year-on-year to CHF 3.74 million (2014: CHF 4.38 million). This difference largely reflects a change in the composition of Group Management and a decrease in the number of members to five (2014: six members). Of the total remuneration of CHF 3.74 million, CHF 1.04 million was paid to persons who left Group Management in the period under review. Their remuneration consisted of a fixed (CHF 0.78 million) and a variable (CHF 0.26 million) component.
At CHF 0.96 million, the highest total remuneration was paid to Roger Herzog, Chief Financial Office and Member of Group Management until 30 April 2015 and since 1 May 2015 Chief Executive Officer (2014: Bruno Bettoni, CHF 1.29 million). The remuneration received by him and that received by the other members of Group Management is broken down as follows:
|
|
| 2015 |
|
| 2014 |
|
| CHF million | Share |
| CHF million | Share |
Roger Herzog, Chief Executive Officer since 1 May 2015 |
|
|
|
|
|
|
Fixed basic salary |
| 0.64 | 67% |
| – | – |
Employer’s contributions management pension plan |
| 0.04 | 4% |
| – | – |
Variable bonus in form of cash payment |
| 0.22 | 23% |
| – | – |
Variable remuneration in form of shares [1] |
| 0.06 | 6% |
| – | – |
Total remuneration |
| 0.96 | 100% |
| – | – |
| ||||||
Bruno Bettoni, Chief Executive Officer until 30 April 2015 |
|
|
|
|
|
|
Fixed basic salary |
| – | – |
| 0.62 | 50% |
Employer’s contributions management pension plan |
| – | – |
| 0.00 | 0% |
Variable bonus in form of cash payment |
| – | – |
| 0.61 | 47% |
Variable remuneration in form of shares [1] |
| – | – |
| 0.06 | 3% |
Total remuneration |
| – | – |
| 1.29 | 100% |
| ||||||
Other members of Group Management |
|
|
|
|
|
|
Fixed basic salary |
| 1.75 | 63% |
| 1.52 | 49% |
Employer’s contributions management pension plan |
| 0.23 | 8% |
| 0.27 | 9% |
Variable bonus in form of cash payment |
| 0.70 | 25% |
| 1.17 | 38% |
Variable remuneration in form of shares [1] |
| 0.10 | 4% |
| 0.13 | 4% |
Total remuneration |
| 2.78 | 100% |
| 3.09 | 100% |
[1]Calculated at the market value on date of allocation
Of the total remuneration of CHF 3.74 million paid to members of Group Management for the 2015 financial year, fixed remuneration (basic annual salary and contributions to pension funds) accounted for 71%, while the variable component of pay (performance bonus, function bonus and shares) accounted for 29% (2014: 56%/44%). The variable component amounted to between 29% and 34% of the total remuneration for persons who were members of Group Management as at the balance sheet cut-off date. For persons who left Group Management in the period under review, the variable component amounted to between 10% and 36% of the total remuneration.
Total variable bonuses for all members of Group Management in the amount of CHF 0.92 million (2014: CHF 1.78 million) are broken down into performance bonuses of CHF 0.46 million and function bonuses of CHF 0.46 million (2014: 1.31 million/0.47 million) and were calculated in accordance with the principles described in 2.3 above.