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:
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Fixed compensation |
Attendance fee |
Total |
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€ thousand |
2018 |
2019 |
2018 |
2019 |
2018 |
2019 |
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Ferdinando Falco Beccalli |
100 |
100 |
4 |
6 |
104 |
106 |
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Dr. Christine Bortenlänger |
100 |
100 |
5 |
6 |
105 |
106 |
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Johannes Dietsch |
145 |
145 |
10 |
9 |
155 |
154 |
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Peter Hausmann |
145 |
145 |
8 |
8 |
153 |
153 |
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Petra Kronen (Vice Chair) |
150 |
150 |
10 |
10 |
160 |
160 |
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Irena Küstner |
125 |
125 |
9 |
9 |
134 |
134 |
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Dr. Ulrich Liman |
120 |
120 |
7 |
8 |
127 |
128 |
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Prof. Dr. Rolf Nonnenmacher (Chair of the Audit Committee) |
150 |
150 |
9 |
9 |
159 |
159 |
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Dr. Richard Pott (Chair) |
300 |
300 |
10 |
9 |
310 |
309 |
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Regine Stachelhaus |
120 |
120 |
5 |
6 |
125 |
126 |
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Marc Stothfang |
100 |
100 |
5 |
6 |
105 |
106 |
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Frank Werth |
100 |
100 |
5 |
6 |
105 |
106 |
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Total |
1,655 |
1,655 |
87 |
92 |
1,742 |
1,747 |
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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.