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Remuneration elements


The total remuneration package of the members of the Board of Management consists of:

  • Base salary
  • Performance-related short-term incentive
  • Performance-related shares
  • Pension provisions.

Furthermore, all members of the Board of Management are entitled to other benefits – such as a company car and representation allowance – which are needed for carrying out their duties and which are in line with market norms.

For communication purposes, the table below presents a summarizing overview of the remuneration of the current members of the Board of Management. Reference is made to note 23 of the Financial statements for more details.

In 2009, the value of fixed and variable cash components at target levels breaks down as follows:

CEO in %
Remuneration – CEO (pie chart)
Board members in %
Remuneration – Board members (pie chart)

Compensation overview members of the Board of Management 2007 – 2009

 

 

 

 

 

 

 

 

 

 

Amounts in €

Year

Base salary

Short-term incentive1

Share awards2

Option awards2

Pension premium paid

Other emoluments

Other compensation

Total remuneration

1

Actual short-term incentive disclosed relates to the performance in the financial year. The figures for 2009 are the non-deferred amounts (see also page 69).

2

Costs are non-cash and relate to the expenses following IFRS 2.

3

As from May 1, 2009.

4

Social charges relate to employer’s contribution in the UK.

 

 

 

 

 

 

 

 

 

 

Hans Wijers

2009

760,000

464,000

678,400

99,200

458,400

4,100

2,464,100

Chief Executive Officer

2008

760,000

700,000

485,900

161,500

565,600

4,500

2,677,500

2007

705,500

1,036,500

435,000

200,100

557,900

4,000

2,939,000

 

 

 

 

 

 

 

 

 

 

Leif Darner

2009

570,000

339,300

481,500

65,100

208,600

4,100

147,800

1,816,400

Board Member Performance Coatings

2008

570,000

340,000

325,500

105,900

291,400

4,600

169,300

1,806,700

2007

504,000

450,000

287,000

131,000

228,400

4,000

126,700

1,731,100

 

 

 

 

 

 

 

 

 

 

Rob Frohn

2009

570,000

339,300

481,500

65,100

146,000

6,900

47,500

1,656,300

Board Member Specialty Chemicals

2008

570,000

340,000

325,500

105,900

156,200

7,200

1,504,800

2007

504,000

450,000

287,000

131,000

149,800

6,500

34,600

1,562,900

 

 

 

 

 

 

 

 

 

 

Tex Gunning3

2009

380,000

226,200

277,600

88,900

2,700

975,400

Board member Decorative Paints

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Keith Nichols4

2009

570,000

339,300

382,500

18,200

124,700

112,7004

58,700

1,606,100

Chief Financial Officer

2008

380,000

226,700

131,300

25,000

57,600

45,200

36,900

902,700

The table summarizes the remuneration package of the members of the Board of Management of AkzoNobel. The elements of the remuneration package are addressed in more detail in the paragraphs on the following pages.

Total remuneration package

 

 

 

 

 

 

 

 

Element

Vehicle

Performance measure

Pay-out at minimum performance

Target pay-out as % of base salary

Maximum pay-out as % of base salary

The target values for the shares are average expected values over the longer term. The maximum percentage for shares assumes that the share price remains unchanged.

 

 

 

 

 

 

 

Fixed

Base salary

Cash

Not applicable

100%

100%

100%

 

 

 

 

 

 

 

 

 

 

EVA: 35%

 

 

 

 

 

 

 

 

CEO: 100%

CEO: 150%

 

Short-term incentive

Cash

EBITDA: 35%

0%

 

 

 

 

 

 

 

Member: 65%

Member: 100%

Variable

 

 

Personal: 30%

 

 

 

 

 

 

 

 

 

 

 

 

Relative total shareholder return: 50%

 

CEO: 75%

CEO: 113%

 

Long-term incentive

Performance-related restricted shares

0%

 

 

 

 

 

 

Member: 69%

Member: 104%

 

 

 

DJSI ranking: 50%

 

 

 

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