Compensation Report

Compensation of former members of the Board of Management

In 2019, former members of the Board of Management did not receive any compensation (previous year: €674 thousand). The aggregate compensation for 2018 included a one-time lump sum payment of €390 thousand for Patrick Thomas and a pro-rata compensation of €284 thousand for the post-contractual noncompete clause for Frank H. Lutz that was limited to one year. A provision of €7,818 thousand (previous year: €668 thousand) is recognized in the consolidated financial statements as of December 31, 2019, for current pensions for former Board of Management members. A provision of €5,804 thousand is recognized for this purpose in the financial statements of Covestro AG as of December 31, 2019 (December 31, 2018: €465 thousand).