51. Management Board and Supervisory Board
Compensation of members of the Management Board in financial year 2014/15
Remuneration of the active members of the Management Board essentially consists of a fixed salary, short-term performance-based remuneration (short-term incentive and special bonuses) as well as the share-based payments (long-term incentive) granted in financial year 2014/15.
The amount of the short-term performance-based compensation for members of the Management Board essentially depends on the development of the key performance metrics EBIT, RoCE and like-for-like sales and also considers the attainment of individually set targets.
Remuneration of the active members of the Management Board in financial year 2014/15 amounted to €21.7 million (2013/14: €10.8 million). This includes €4.0 million (2013/14: €3.7 million) in fixed salaries, €10.0 million (2013/14: €3.4 million) in short-term performance-based remuneration, €7.5 million (2013/14: €3.4 million) in performance-based remuneration with a long-term incentive effect and €0.2 million (2013/14: €0.3 million) in other remuneration.
Performance-based compensation with a long-term incentive effect granted in financial year 2014/15 (sustainable performance plan version 2014) is shown at fair value as of the date granted. In financial year 2014/15, value changes resulted from the current tranches of performance-based payment programmes with a long-term incentive effect. The company’s expenses amounted to €0.92 million for Mr Koch, €0.02 million for Mr Boone, €0.76 million for Mr Frese, €0.77 million for Mr Haas and €0.02 million for Mr Hutmacher.
The target amount of the 2014/15 tranche for the members of the Management Board amounts to €5.365 million.
Other remuneration consists of non-cash benefits.
Total compensation of former members of the Management Board
Former members of the Management Boards of METRO AG and the companies that were merged into METRO AG as well as their surviving dependants received €3.4 million (2013/14: €3.5 million). The corresponding cash value of provisions for current pensions and pension entitlements for this group amounts to €49.5 million (30/9/2014: €54.3 million).
Compensation of members of the Supervisory Board
The total remuneration of all members of the Supervisory Board in financial year 2014/15 amounted to €1.8 million (2013/14: €1.7 million).