Remuneration of the Executive Management
The remuneration paid to the Executive Management reflects a wish to secure a good and stable performance for the Group in the short term as well as in the longer term. The remuneration includes element of performance-related bonus and comprises a bonus plan entitling them to up to three month' additional salary. The bonus is directly linked to achievement of defined benchmarks within the four perspectives of the balanced scorecard. These benchmarks reflect the strategic focus areas of the Group and the individual business areas, including growth, profitability, cost reduction, customer satisfaction, customer loyalty, image, processes, communication, employee satisfaction and development, and innovation.
Members of the Group Executive Management are also entitles entitled to company cars.
A contribution of 25% of the fixed salary of the Group Executive Management is paid into a pension scheme.
Members of the Group Executive Management are entitled to 12 months' notice of termination and to 12 months' severance pay. However, the Group CEO is entitled to 12 months' notice of termination and to 18 months' severance pay plus pension contributions.
Total remuneration of the Executive Management 2007
| DKK |
Basic salary |
Bonus |
Pension |
Car |
Total |
| Stine Bosse |
5,200,000 |
1,734,000 |
1,300,000 |
113,000 |
DKK 8,347,000 |
| Morten Hübbe |
3,000,000 |
750,000 |
750,000 |
156,000 |
DKK 4,656,000 |
| Peter Falkenham |
2,575,000 |
644,000 |
644,000 |
106,000 |
DKK 3,969,000 |
Last update: 09 June 2008