Integrated Annual Report 2015
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5. Board of Directors: remuneration and share ownership in 2015

This section is audited by the external auditor.

The remuneration of the Board of Directors consists solely of a fixed remuneration paid out in the form of cash and non-discounted restricted shares. In 2015, members of the Board of Directors received a total remuneration of TCHF 2,293 (previous year TCHF 995). Remuneration for regular board activities and committee assignments amounted to TCHF 2,100 (previous year TCHF 893). The structure and levels of remuneration of the members of the Board of Directors have not changed compared to the previous year. The increase of remuneration between 2014 and 2015 is entirely due to the following factors:

  • The remuneration of the Chairman is now included in the remuneration of the Board of Directors, while it was included in the remuneration of the Group Executive Board in 2014.

  • The appointment of Thomas M. Hübner as new member of the Board of Directors.

Please refer to the following table for details pertaining to the remuneration of members of the Board of Directors:

  A. Baehny
Chairman
R. Spoerry
Vice Chairman
F. Ehrat T. Hübner H. Reuter J. Tang-
Jensen
Total
  CHF CHF CHF CHF CHF CHF CHF
2015              
Remuneration of the Board of Directors
Accrued remuneration1 300,000 320,000 200,000 150,000 245,000 200,000 1,415,000
Cash remuneration 685,000 0 0 0 0 0 685,000
Expenses 15,000 15,000 15,000 11,250 15,000 15,000 86,250
Contributions to social insurance 52,825 15,145 9,788 7,388 11,807 9,794 106,747
Total 1,052,825 350,145 224,788 168,638 271,807 224,794 2,292,997
              CHF
Remuneration of former members of the Board of Directors
Accrued remuneration 0
Expenses             0
Contributions to social insurance 0
Total             0
  A. Baehny
Chairman
2
R. Spoerry
Vice Chairman
F. Ehrat H. Reuter J. Tang-
Jensen
Total
  CHF CHF CHF CHF CHF CHF
2014            
Remuneration of the Board of Directors
Remuneration - 320,000 150,000 222,500 200,000 892,500
Expenses - 15,000 15,000 15,000 15,000 60,000
Contributions to social insurance - 15,071 7,431 10,725 9,716 42,942
Total - 350,071 172,431 248,225 224,716 995,442
              CHF
Remuneration of former members of the Board of Directors
Accrued remuneration 46,250
Expenses             3,750
Contributions to social insurance 6,069
Total             56,069

For the period from the 2015 General Meeting to the 2016 General Meeting, the remuneration paid to the Board of Directors amounts to CHF 2,299,053. This is within the limit of CHF 2,350,000 approved by the 2015 General Meeting.

As of the end of 2015 and 2014, the members of the Board of Directors held the following shares in the company:

  A. Baehny
Chairman
R. Spoerry
Vice Chairman
F. Ehrat T. Hübner H. Reuter J. Tang-
Jensen
Total
2015             
Shareholdings Board of Directors
Shares 46,969 8,479 1,25110 7,004 1,715 65,428
Options 63,6881 0 00 0 0 63,6881
Percentage voting rights shares 0.12% < 0.1% < 0.1% < 0.1% < 0.1% < 0.1% 0.17%
  A. Baehny
Chairman
R. Spoerry
Vice Chairman
F. Ehrat H. Reuter J. Tang-
Jensen
Total
2014            
Shareholdings Board of Directors
Shares see Group
Executive Board
7,606 706 6,3361 1,284 15,932
Percentage voting rights shares   < 0.1% < 0.1% < 0.1% < 0.1% < 0.1%

As of 31 December 2015, there were no outstanding loans or credits between the company and the members of the Board of Directors, closely related parties or former members of the Board of Directors.