[47] Remuneration of the Executive Board and Supervisory Board
Executive Board
Executive Board
The responsibilities of the members of the Executive Board are disclosed in the corporate governance statement (see the section ‘Working methods of the Executive Board and Supervisory Board’).
Remuneration
The remuneration paid to the Executive Board comprises a fixed salary and non-cash benefits, pension entitlements, and performance-related components. The variable performance-related components comprise an annually recurring component linked to business performance and a multi-year performance-related component in the form of the KION performance share plan (see also note [46]). The pension entitlements consist of retirement, invalidity, and surviving dependants’ benefits.
The total remuneration, pursuant to IFRS, of the members of the Executive Board who were in post in 2024 is as follows:
in € million |
2024 |
2023 |
|---|---|---|
Non-performance-related components |
6.9 |
7.1 |
Performance-related components |
5.2 |
4.7 |
Termination benefits |
– |
4.2 |
Total short-term remuneration components |
12.1 |
16.0 |
Change in fair value of share-based payments |
3.5 |
3.4 |
Post-employment benefits |
1.0 |
1.5 |
Total long-term remuneration components |
4.5 |
4.9 |
|
|
|
Total remuneration (IFRS) |
16.6 |
20.9 |
The corresponding total remuneration pursuant to section 314 (1) no. 6a HGB, for the members of the Executive Board who were in post in 2024, breaks down as follows, whereby the fair value of the share-based payments at grant date included 190,829 phantom shares:
in € million |
2024 |
2023 |
|---|---|---|
Total remuneration (IFRS) |
16.6 |
20.9 |
– Change in fair value of share-based payments |
–3.5 |
–3.4 |
+ Fair value of the share-based payments at grant date |
6.8 |
7.2 |
– Post-employment benefits |
–1.0 |
–1.5 |
– Termination benefits |
– |
–4.2 |
– Remuneration under conditions precedent |
1.3 |
–0.7 |
Total remuneration (HGB) |
20.2 |
18.3 |
As at December 31, 2024, no loans or advances had been extended to members of the Executive Board. This had also been the case as at December 31, 2023.
The total remuneration paid to former members of the Executive Board of KION GROUP AG and its legal predecessors amounted to €0.9 million (2023: €8.4 million). Pension entitlements of former Executive Board members or their surviving dependants amounting to €17.4 million (December 31, 2023: €19.6 million) were recognized in accordance with IFRS.
Further details of Executive Board remuneration, including the individual amounts for each member, are presented in KION GROUP AG’s separate 2024 remuneration report, which is available on the KION Group website (www.kiongroup.com/remuneration).
Supervisory Board
The total remuneration paid to the members of the Supervisory Board for the performance of their tasks at the parent company and subsidiaries in 2024 amounted to €1.4 million (2023: €1.5 million) excluding VAT and consisted entirely of short-term benefits. There were no loans or advances to members of the Supervisory Board in 2024. Members of the Supervisory Board also received short-term employee benefits of €0.9 million for employee services (2023: €0.8 million), including the employer’s share of the social-security contribution.
Further details of Supervisory Board remuneration, including the individual amounts for each member, are presented in KION GROUP AG’s separate 2024 remuneration report, which is available on the KION Group website (www.kiongroup.com/remuneration).
The total remuneration of the members of the Executive Board and Supervisory Board came to €18.0 million (2023: €22.4 million).