Compensation Report
Dear Shareholders
On behalf of the Board of Directors and as Chairman of the Compensation & Nomination Committee, I am pleased to present you with the Compensation Report for the financial year 2021.
Since the 2015 General Meeting, the General Meeting approves in separate votes the proposals of the Board of Directors for the maximum aggregate compensation for the members of the Board of Directors until the next Annual General Meeting, and for the maximum aggregate compensation for Group Management for the respective forthcoming financial year. The Compensation Report for the previous financial year is also submitted to the shareholders for approval by way of a non-binding advisory vote. At the 2021 General Meeting you expressed your support for the Board of Directors and the Compensation & Nomination Committee’s activities as well as all compensation-related resolutions proposed. In this regard, I would like to thank you on behalf of the entire Board of Directors for your continued trust.
Despite recurring pandemic-related restrictions, Lindt & Sprüngli achieved strong results in 2021. The annual corporate financial targets for the financial year as set by the Compensation & Nomination Committee were overachieved and each member of Group Management also achieved its annual individual qualitative targets by showing great leadership, embracing change and continuous innovation.
The Board of Directors is convinced that this 2021 Compensation Report gives you, our valued shareholders, a comprehensive and integral overview regarding the compensation of the senior management at Lindt & Sprüngli Group. On your behalf, I would also like to thank each member of our global team for their commitment and achievements.
Dr R. K. Sprüngli
Chairman of the Compensation & Nomination Committee
Compensation Report 2021
The Compensation Report describes the underlying basics, governing principles and elements of the compensation of the senior management of the Lindt & Sprüngli Group and also contains information on the actual compensation paid to the members of the Board of Directors and Group Management. The information provided refers in each case to the financial year ending on December 31, 2021 (where required with comparative figures for the previous financial year). The Compensation Report also incorporates the disclosure obligations set out in article 14 et seqq. VegüV and article 663c para 2 OR, the requirements of Section 5 of the Annex to the Directive on Information relating to Corporate Governance (Corporate Governance Directive) of SIX Swiss Exchange and the recommendations of the “Swiss Code of Best Practice for Corporate Governance” issued by economiesuisse in its last published version of February 29, 2016.
This Compensation Report is structured as follows:
I. Compensation governance
II. Compensation of the Board of Directors
III. Compensation of Group Management
i. Compensation goals and principles
ii. Compensation system
iii. Compensation elements
iv. Compensation
v. Supplementary amount
IV. Employment contracts
V. Participations
VI. Additional fees, compensation, and loans to governing bodies
VII. Compensation to former members of corporate bodies