Compensation Report

Compensation of the Supervisory Board

The Supervisory Board is compensated according to the relevant provisions of the Articles of Incorporation.

The members of the Supervisory Board each receive fixed annual compensation of €100 thousand plus reimbursement of their expenses.

In accordance with the recommendations of the GCGC, additional compensation is paid to the Supervisory Board Chair and Vice Chair, and for chairing and membership in committees. The Supervisory Board Chair receives fixed compensation of €300 thousand, while €150 thousand is paid to the Vice Chair. This compensation includes chairmanship of and membership in committees. The other members of the Supervisory Board are entitled to additional compensation for membership in or chairmanship of committees. The Chair of the Audit Committee receives an additional €50 thousand, the other members of the Audit Committee €25 thousand each. The chairs of the remaining committees receive €30 thousand each, the other members of those committees €20 thousand each. No additional compensation is paid for membership in the Nominations Committee. Work on committees will be considered for no more than two committees. If this cap is exceeded, compensation is paid for the two highest paid positions. If changes are made to the Supervisory Board and/or its committees during the year, members receive compensation on a prorated basis. The members of the Supervisory Board also receive an attendance fee of €1 thousand each time they personally attend a meeting of the Supervisory Board or a committee. The attendance fee is limited to €1 thousand per day.

Compensation of the Supervisory Board for the fiscal year

The following table outlines the components of each Covestro AG Supervisory Board member’s compensation for the 2019 reporting period and the prior-year period:

Compensation of the members of the Supervisory Board of Covestro AG

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed compensation

 

Attendance fee

 

Total

€ thousand

 

2018

 

2019

 

2018

 

2019

 

2018

 

2019

Ferdinando Falco Beccalli

 

100

 

100

 

4

 

6

 

104

 

106

Dr. Christine Bortenlänger

 

100

 

100

 

5

 

6

 

105

 

106

Johannes Dietsch

 

145

 

145

 

10

 

9

 

155

 

154

Peter Hausmann

 

145

 

145

 

8

 

8

 

153

 

153

Petra Kronen (Vice Chair)

 

150

 

150

 

10

 

10

 

160

 

160

Irena Küstner

 

125

 

125

 

9

 

9

 

134

 

134

Dr. Ulrich Liman

 

120

 

120

 

7

 

8

 

127

 

128

Prof. Dr. Rolf Nonnenmacher (Chair of the Audit Committee)

 

150

 

150

 

9

 

9

 

159

 

159

Dr. Richard Pott (Chair)

 

300

 

300

 

10

 

9

 

310

 

309

Regine Stachelhaus

 

120

 

120

 

5

 

6

 

125

 

126

Marc Stothfang

 

100

 

100

 

5

 

6

 

105

 

106

Frank Werth

 

100

 

100

 

5

 

6

 

105

 

106

Total

 

1,655

 

1,655

 

87

 

92

 

1,742

 

1,747

In addition to their compensation as members of the Supervisory Board, those employee representatives who are employees of Covestro Group companies receive compensation unrelated to their service on the Supervisory Board. The total amount of such compensation was €883 thousand (previous year: €925 thousand).

No compensation was paid or benefits granted to members of the Supervisory Board for personally performed services such as consulting or agency services. In addition, the company has purchased insurance for the members of the Supervisory Board to cover their personal liability arising from their service on the Supervisory Board. This includes a deductible that is in line with the GCGC recommendation.