The Executive Board of Aurubis AG consists of four members: Roland Harings (Chairman), Dr. Thomas Bünger, Rainer Verhoeven and Dr. Heiko Arnold.
You can find an overview of the contract periods of the members of the Executive Board of Aurubis AG here.
|Roland Harings||May 20, 2019||June 30, 2022|
|Dr. Thomas Bünger||October 1, 2018||September 1, 2021|
|Rainer Verhoeven||January 1, 2018||December 31, 2025|
|Dr. Heiko Arnold||August 15, 2020||August 14, 2023|
Compensation for the Executive Board is oriented toward long-term corporate development and is aligned with shareholder interests. In addition, it is designed in such a way that it is appropriate in comparison to our competitors.
Compensation for the Executive Board
The Supervisory Board defines the total compensation of the individual Executive Board members on the basis of proposals from the Personnel Committee and decides on and reviews the compensation system for the Executive Board at regular intervals. In fiscal year 2016/17, the Supervisory Board fundamentally revised the compensation system. The participants of the Annual General Meeting approved the new compensation system pursuant to Section 120 (4) of the German Stock Corporation Act on March 1, 2018.
The new compensation system applies to Chief Financial Officer Mr. Rainer Verhoeven and to Chief Operating Officer Dr. Thomas Bünger, the latter of whom was appointed on October 1, 2018. For the Executive Board members Mr. Jürgen Schachler (Executive Board member until June 30, 2019) and Dr. Stefan Boel (Executive Board member until July 31, 2018), the old compensation system applied and will initially continue to apply.
Old compensation system
The compensation is defined in the employment contracts and consists of a series of coordinated compensation components. Specifically, these components are fixed compensation, variable compensation, fringe benefits, and pension plans.
Additional information on the structure of Executive Board compensation, as well as the compensation of individual Executive Board members, can be found in the Compensation Report of our Annual Report.
New compensation system
The new compensation system complies with the requirements of the German Stock Corporation Act and the German Corporate Governance Code, particularly 4.2.3 of the German Corporate Governance Code, and builds on established components of the old system. In particular, the new system includes multiannual, forward-looking variable compensation. The new compensation system also consists of fixed and variable components.
Additional information on the new structure of Executive Board compensation, as well as the compensation of individual Executive Board members, can be found in the Compensation Report of our Annual Report.
You can find the notifications currently subject to disclosure requirements here.
In accordance with Art. 19(1) subparagraph 2 MAR, members of the Executive and Supervisory Boards of a public company as well as closely related persons must notify the company and the Federal Authority for Financial Services Supervision (BaFin) about the purchase and sale of shares in the company or related financial instruments. The companies are obligated to publish this information. Insignificant purchase and sales transactions (under € 5,000 per calendar year, from 01 January 2020 below € 20,000.00 ) are exempt from this disclosure obligation.