Remuneration of the Board of Directors
Profit-related remuneration has been dispensed with in the case of the Board of Directors. The approved overall sum for the fixed remuneration in 2020 is a maximum of CHF 540,000. At the General Meeting on 28.04.2021, a total amount of maximum CHF 660,000 will be submitted for approval as fixed compensation for the year 2022.
The remuneration for members of the Board of Directors is made up of the following components:
a) Non-profit-related (fixed) remuneration
Each member of the Board of Directors receives a fixed basic fee which is determined in advance and is laid down in the regulations. This is identical for each member. The Chairman and Vice-Chairman receive higher fees. Additional fees are paid for membership and chairmanship of specialist committees in order to take into account the individual responsibility and workload involved. The remuneration established for each member is paid in cash on a quarterly basis.
b) Attendance fees
An attendance fee is paid for each meeting or, if more than one meeting is held on a given day, for each day. The level of the attendance fee is laid down in the regulations governing the remuneration of the Board of Directors.
All the members of the Board of Directors receive a lump sum expenses allowance. Additional expenses, such as those for business travel, are refunded on the basis of the expenses effectively incurred. VISCHER AG invoices CHF 35,000 each year for the outlay incurred in running the secretariat for the Chairman of the Board of Directors.
d) Shares, options
The MCH Group does not have any share or option schemes for the Board of Directors. Details of shares in MCH Group Ltd. that are held by members of the Board of Directors:
Annual Report | Board of Directors
e) Sign-on bonuses
No sign-on bonuses are paid to members of the Board of Directors.
f) Loans, credit
As in the previous year, no loans or credit were granted to the members of the Board of Directors in the reporting year.
As in the previous year, no suretyships (sureties, guarantees) were granted to members of the Board of Directors in the reporting year.
The overall sum of a maximum of CHF 540,000 approved by the 2019 General Meeting, was exceeded by CHF 174,834. The reasons for this sum being exceeded are the numerous additional meetings of the Board of Directors as well as several additional meetings of the Audit Committee (AC), the Governance, Nomination and Compensation Committee (GNCC) and the Strategy Committee (SC) due to the strategic realignment, the necessary development and implementation of a comprehensive package of measures to strengthen the capital structure and the shareholder base as well as the personnel changes in the Executive Board.