Chapters
Annual Report 2020

Short-term variable remuneration

CEO Borchert has been awarded a bonus of EUR 449,185, representing 53.6% of his 2020 base salary. The bonus targets over 2020 can be divided in two groups: 1) financial and 2) strategic and personal targets, each having a 50% weight in the bonus outcome. The financial targets are related to the achievement of a certain target for the total net revenue and the adjusted EBITA. The strategic / personal targets included, amongst others:

  • Strategy execution, such as delivering the digital and Product Value Chain transformation roadmap on time and on budget
  • Organization, such as simplification of the global business
  • Operational excellence, such as structurally compliant with the net debt targets
  • People, such as attraction and retention of key leadership talent and employee engagement

CFO Eelman has been awarded a bonus of EUR 223,629 representing 43.6% of his base salary. The bonus targets over 2020 can be divided in two groups: 1) financial and 2) strategic and personal targets, each having a 50% weight in the bonus outcome. The financial targets are related to the achievement of a certain target for the total net revenue and the adjusted EBITA. The strategic/personal targets included, amongst others:

  • Strategy execution, such as the delivery of IT related milestones in the digital and Product Value Chain transformation roadmap
  • Organization, such as defining the finance core business process model
  • Operational excellence, such as structurally improving financial performance management
  • People, such as attraction and retention of key leadership talent in the finance function