The Winterthur-based Sulzer industrial group has earned the Management of 2018, significantly more than in the previous year. Because the rate of development would have been affected in the last year, the long-term compensation of the management, however, has adapted the Board of Directors, in retrospect, in addition, rate limits, in order to improve the compensation.
First of all, the absolute Numbers: The CEO of Sulzer, Greg Poux-Guillaume, has received for the past year to 5.8 million Swiss francs, which is around 1.5 million, or a third more than in the previous year. This is a princely sum for an industrial company and an amount that surpasses some of the wage of the CEO of a Blue Chip company. For example, the CEO of Schindler, Thomas Oetterli has received 3.6 million. Schindler achieves more than three times as much revenue and counts about four times more employees than Sulzer. But not only Sulzer’s CEO has well earned. The Board of Directors and the Executive management have, in accordance with the on Thursday published the annual report for 19 million francs. . This corresponds to 17 percent of the net profit, what means a Fund Manager as a “disproportionate”.
There are in the Compensation Report in addition, a Passage that is likely to provide to the General Assembly for discussion. This is the so-called Performance Shares, which are blocked for three years and as a long-term incentive will apply. These special shares are allocated to the Management on an annual basis and is intended to bring the interests of the operational leaders with those of shareholders.
there is a Performance limit
the most significant component of the claim calculation, the Total Shareholder Return has screwed the Board of Directors now in retrospect to the terms and conditions. As in the annual report, will be re-drafted in the calculation of the Performance in 2016 and 2017, a is not the lower limit. So a worse Performance of the Sulzer share, in comparison with the SMI Mid Index and a self-selected comparison group is of less weight.
in Addition, the allocation of Performance Shares in 2018 on 1. July has been made and not, as usual, on 1. April. Because the number of shares based on the volume-weighted price of the three previous months, meant the postponement of the reporting date, an increase in the pieces divided. Since the beginning of April 2018, the United States imposed sanctions against the Sulzer major shareholder Victor Vekselberg, whereupon the rate of 130 CHF collapsed to temporarily under 100 francs. Sulzer bought Vekselberg, a 15-percent-title package and placed it later in the market. Currently, the Russian Investor holds 49 percent. Ultimately the shareholders have to be your judgement on the strange conduct of the General meeting of shareholders on 3. April cases. (Financial and economic)
Created: 19.02.2019, 16:06 PM
