Remuneration of the Board of Management
In compliance with recommendations from the German Corporate Governance Code, Allianz SE is publishing an individual breakdown of remuneration for members of the Board of Management and Supervisory Board for fiscal year 2007.
The remuneration of the Board of Management of Allianz SE supports sustainable value-oriented management. In the last several years, it has been enhanced in order to arrive at a balanced structure, whose level is appropriate and competitive, and achieves the intended management purpose. The remuneration of the Board of Management is determined by the Personnel Committee of the Supervisory Board. The remuneration structure is regularly discussed and examined in the plenary meetings of the Supervisory Board. The individual remuneration components for the Board of Management include:
Fixed remuneration
The amount of the fixed remuneration is, on the one hand, determined by the delegated function or responsibility. On the other hand, it is influenced by external market conditions.
Variable remuneration
This component consists of an annual and a mid-term 3-year bonus, each of which is performance- and success-related and limited to a maximum amount.
Group Equity Incentive
This consists of stock appreciation rights (SAR) and restricted stock units (RSU).
Variable remuneration and stock-based remuneration together form a three-tier incentive system:
Variable remuneration and stock-based remuneration together form a three-tier incentive system:
1. Annual bonus (short-term)
Target categories:
- Allianz Group financial goals
- Business division financial goals
- Individual objectives
2. 3-year-bonus (medium-term)
Target categories:
- EVA-objectives over three-year performance period
- Allianz Group financial goals and strategic objectives
- Business division financial goals and strategic objectives
- Individual strategic objectives
3. Equity-related remuneration (long-term)
Target category:
- Sustained increase in share price
Further information regarding the remuneration structure as well as the individual remuneration for members of the Board of Management in 2007 can be found in the Remuneration Report of our Annual Report.
Remuneration Report
Information about the total remuneration of the Board of Management and the Group Equity Incentive (GEI) plans is provided in the Appendix to our Annual Report.
Annual Report
Group Equity Incentives
