Nomination and Compensation Committee

The Nomination and Compensation Committee supports the Board of Directors with regard to the selection, compensation and training of the members of the Board of Directors and Group Management.

Its tasks include managing the selection process for members of the Board of Directors and Group Management and the resulting submission of proposals to the Board of Directors. In respect of Group Management, this also extends to the approval of the key conditions of contracts of employment.

Its other tasks include succession planning at the most senior level of management, monitoring management training and reviewing and approving the salary policy suggested by the CEO.

The annual general meeting of 16 April 2021 appointed Andrea Sieber (Chairwoman), Philipp Gmür (member) and Peter Spuhler (member) to the Nomination and Compensation Committee. The CEO attends some of the meetings depending on what is on the agenda.

The Nomination and Compensation Committee held two ordinary meetings in 2021, lasting three hours altogether. One meeting was attended by all Committee members, whilst the other was attended by two Committee members. These meetings were essentially concerned with the consideration of suitable candidates for election to the Board of Directors, the wage policy for the entire company, the examination and discussion of the remuneration system and the remuneration components of the Board of Directors, the Board committees and Group Management, the examination and discussion of target achievement in relation to Group Management’s variable remuneration, the preparation of remuneration proposals to the Board of Directors, and the medium-term planning for the composition of the Board of Directors and Group Management.

In 2021, the Chairwoman of the Nomination and Compensation Committee worked closely with the Chairman of the Board of Directors to hold multiple meetings, conversations and interviews in relation to the medium-term planning and the selection process for the Board of Directors, spending around 30 hours on this in total. External consultants were involved in this process.

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