Compensation Report for the financial year 2023
Pursuant to section 162 of the German Stock Corporation Act (AktG), the management and supervisory boards of a publicly listed company prepare a clear and understandable compensation report every year. This report outlines the main principles of compensation for the members of the Board of Executive Directors and the Supervisory Board and provides specific information on compensation granted and owed to current and former members of the Board of Executive Directors and Supervisory Board in the 2023 business year.
This report meets the disclosure requirements of section 162 AktG and the applicable accounting rules (HGB, IFRS). Furthermore, the recommendations of the German Corporate Governance Code (GCGC) in the version dated April 28, 2022, have been observed.
The Compensation Report for 2022, which was prepared for the first time in accordance with the new provisions of Section 162 AktG, was approved by the Annual Shareholders’ Meeting with a majority of 94.72% on April 27, 2023. We understand the high approval rate as confirmation of the acceptance of both the current compensation system and the Compensation Report 2022.