The following report describes the remuneration received by the Management Board and the Supervisory Board of METRO AG for the financial year 2012 paid in accordance to standards laid down by the German Commercial Code (HGB) and the German Corporate Governance Code. It also outlines the system of Management Board compensation and its further modification. Furthermore, the remuneration report contains information about share-based compensation for executives of METRO GROUP.
The remuneration system for the Management Board is approved by the Supervisory Board of METRO AG. The Supervisory Board is advised in this matter by its Personnel Committee. The current remuneration system was approved by the Annual General Meeting on 6 May 2011.