Absurd compensation policy in the case of Meyer Burger

The Swiss solar equipment manufacturer Meyer Burger remains on the Board of Directors no stone on the other. With Alexander bird, Wanda Grundbacher Eriksen, Michael R. Splinter, and Eric Meurice announced four members of the Board of the resignation. In the future, there will be only four members.

To change Sentis Capital, the largest shareholder of Meyer Burger added. Although important goals were achieved, makes Sentis more pressure. This time it's about the wages of Management and the Board of Directors. Sentis Capital was not the only shareholder who objected in the last few years, on the remuneration policy of Meyer Burger.

on the contrary, The remuneration report of Meyer Burger was rejected in 2017 and 2018. But used it has nothing, it continued to be paid salaries and bonuses in the millions, although the company lost due to the restructuring of money and many employees their jobs. In a letter to the Board of Directors Sentis calls on them to finally change the policy.

wage increase, because the bonus objectives are unreachable

so Far, this is obviously not the case, rather the opposite: "The only known action on the subject of remuneration of a phone conversation between us and the gentlemen of the bird (VR-President) and Franz Richter (Vice-President) at 4 was. October 2018. On this occasion the two gentlemen asked us, as we would to an increase in the existing Fixlöhne of management", it says in the letter to shareholders. Justified the salary increase with the bad business. This will make the achievement of the bonus objectives is unlikely. According to Sentis, this idea is "absurd".

Not much different from the Consideration of the Board of Directors will be considered to define the variable compensation on the basis of a comparison with similar companies. "The Bonus must be an incentive to increase the profit of the company," writes Sentis.

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In contrast to the big banks, where the pay of the Board of Directors and the Executive Board has been sharply criticised, this compensation in the case of Meyer Burger, a significant cost factor. In 2017, the remuneration is about one-third of the operating profits (just 37.6 percent from Ebitda). No wonder that the shareholders will rebel. In the current year it should be better, according to Sentis, the Salaries of senior management are expected to be at about one-sixth of the profits.

Urs Fähndrich, the owner of the investment company Elysium Capital and also shareholder of Meyer Burger, has brought itself as the Board of Directors into the game. To not even more pollute the invoice, he announced that he was with a symbolic salary of one franc satisfied.

Meyer Burger spokeswoman Ingrid Carstensen wants to take Fähndrich, no comments. To says Sentis, because several of the proposals had been made, which would be discussed at the annual General meeting. On the invitation, on 9. April is published, you'll see which are the.

(Sunday newspaper)

Created: 07.04.2019, at 00:02