3  Remuneration paid in the 2016 financial year

3.1  Remuneration paid to the members of the Board of Directors

he seven members of the Board of Directors received fixed remuneration totalling CHF 0.63 million (2016: CHF 0.63 million).

Name

  

Title

  

2017

CHF million

  

2016

CHF million

Bruno Bettoni

  

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

Andrea Sieber

  

Member

0.08

0.08

Thomas Stenz

  

Member

0.08

0.08

Total remuneration

   

0.63

0.63

3.2  Remuneration paid to the members of Group Management

The total remuneration paid to the members of Group Management increased by 7.4% to CHF 3.35 million (2016: CHF 3.12 million). This difference largely reflects a change in the composition of Group Management and an increase in the number of members.

At CHF 1.17 million, as in the previous year, the highest total remuneration was paid to Roger Herzog, Chief Executive Officer (2016: CHF 1.15 million). The remuneration received by him and that received by the other members of Group Management is broken down as follows:

2017

2016
  

CHF million

Share

  

CHF million

Share

Roger Herzog, Chief Executive Officer

Fixed basic salary

0.73

63%

0.73

63%

Employer’s contributions management pension plan

0.19

17%

0.10

9%

Variable bonus in form of cash payment

0.18

14%

0.25

22%

Variable remuneration in form of shares1

0.07

6%

0.07

6%

Total remuneration

1.17

100%

1.15

100%

Other members of Group Management

Fixed basic salary

1.22

56%

1.24

63%

Employer’s contributions management pension plan

0.29

13%

0.23

12%

Variable bonus in form of cash payment

0.55

25%

0.41

21%

Variable remuneration in form of shares1

0.12

6%

0.09

4%

Total remuneration

2.18

100%

1.97

100%

1 Calculated at the market value on date of allocation

Of the total remuneration of CHF 3.35 million paid to members of Group Management for the 2017 financial year, fixed remuneration (basic annual salary and contributions to pension funds) accounted for 73%, while the variable component of pay (performance bonus, function bonus and shares) accounted for 27% (2016: 74%/26%). The variable elements of remuneration will be paid out following the resolution taken by the general meeting. The variable component amounted to between 22 and 32% of the total remuneration, depending on the member of Group Management.

Total variable bonuses for all members of Group Management in the amount of CHF 0.73 million (2016: CHF 0.66 million) are broken down into performance bonuses of CHF 0.50 million and function bonuses of CHF 0.23 million (2016: 0.46 million/0.20 million) and were calculated in accordance with the principles described in 2.3 above.