Guidelines
In accordance with §6–16a of the Public Companies Act, the Board draws up a statement about the determination of executive management salaries and other remuneration. The statement is presented to the general meeting and this is followed by a consultative vote on the statement.
The CEO’s remuneration is decided by the Board. Remuneration of executive management is decided by the CEO. Members of executive management have agreements allowing post-employment benefits under certain conditions for until 24 months beyond the period of notice. There are no other agreements for executive management or the Board with regard to special compensation on termination of employment or change of employment.
Performance-related remuneration
Members of executive management have a bonus programme based on the company’s results. The CEO may propose payment of a discretionary bonus to executive management. This must be approved by the chairman of the Board. Members of executive management do not have any equity compensation benefits or share option schemes.
BWG Homes is not under any obligation to grant executive management, the Board or other employees profit-sharing, options or similar benefits.
Policy and reporting
The company’s executive management remuneration policy is described in the annual report. For payment of all components of remuneration to the CEO and other executive management, see note 8.