3  Remuneration paid in the 2019 financial year

3.1  Remuneration paid to the members of the Board of Directors

The members of the Board of Directors received fixed remuneration totalling CHF 0.69 million (2018: CHF 0.63 million).

Name

  

Title

  

2019

CHF million

  

2018

CHF million

Ralph-Thomas Honegger

  

Chairman as of 12.04.2019

  

0.15

  

0.08

Bruno Bettoni

  

Chairman until 12.04.2019

  

–

  

0.15

Andrea Sieber

  

Vice Chairwoman

  

0.08

  

0.08

Philipp Gmür

  

Member as of 12.04.2019

  

0.08

  

–

Peter Mettler

  

Member until 06.12.2019

  

0.06

  

0.08

Peter Spuhler

  

Member

  

0.08

  

0.08

Olivier Steimer

  

Member

  

0.08

  

0.08

Thomas Stenz

  

Member

  

0.08

  

0.08

Jürg Stöckli

  

Member as of 12.04.2019

  

0.08

  

–

Total remuneration

      

0.69

  

0.63

3.2  Remuneration paid to the members of Group Management

The total remuneration paid to the members of Group Management decreased by 12.1 percent year-on-year to CHF 3.11 million (2018: CHF 3.54 million). This difference largely reflects a decrease in the number of members of Group Management to four. Of the total remuneration of CHF 3.11 million, CHF 0.07 million was paid to persons who left Group Management in the period under review. The remuneration paid to them consisted solely of a fixed remuneration.

At CHF 1.20 million, as in the previous year, the highest total remuneration was paid to Roger Herzog, CEO (2018: CHF 1.16 million). The remuneration received by him and that received by the other members of Group Management is broken down as follows:

     

2019

    

2018
   

CHF million

Share

  

CHF million

Share

Roger Herzog, CEO

          

Fixed basic salary

  

0.73

61%

  

0.73

63%

Employer’s contributions to management pension plan

  

0.17

14%

  

0.19

17%

Variable bonus in form of cash payment

  

0.18

15%

  

0.12

10%

Variable remuneration in form of shares1

  

0.12

10%

  

0.12

10%

Total remuneration

  

1.20

100%

  

1.16

100%

Other members of Group Management

            

Fixed basic salary

  

1.04

55%

  

1.34

56%

Employer’s contributions to management pension plan

  

0.17

9%

  

0.29

12%

Variable bonus in form of cash payment

  

0.50

26%

  

0.56

24%

Variable remuneration in form of shares1

  

0.20

10%

  

0.19

8%

Total remuneration

  

1.91

100%

  

2.38

100%

1 Calculated at the market value on date of allocation

Of the total remuneration intended for the members of Group Management for the 2019 financial year in the amount of CHF 3.11 million, 68 percent was fixed remuneration (annual basic salary and contributions to pension funds) and 32 percent was the variable salary component (performance and function bonuses plus shares) (2018: 72%/28%). The variable elements of remuneration will be paid out following the resolution taken by the general meeting. The variable component amounted to between 25 and 39 percent of the total remuneration, depending on the member of Group Management.

The total of the variable bonuses for all members of Group Management, amounting to CHF 0.68 million (2018: CHF 0.68 million) breaks down into performance bonuses of CHF 0.32 million and function bonuses of CHF 0.36 million (2018: CHF 0.21 million CHF 0.47 million). This calculation is based on the principles set out in section 2.3.