Annual Report 2020

Remuneration

This report was prepared in accordance with the requirements of the Swiss Code of Obligations. The amounts disclosed comprise the overall remuneration granted to the members of the Board of Directors of Alpiq Holding Ltd. and the Executive Board for the 2020 financial year. Remuneration is recognised in the year of final acquisition of title.

As laid down under the Articles of Association, the Annual General Meeting (AGM) approves the overall remuneration amounts for the Board of Directors and the Executive Board once a year, separately and with binding effect, prospectively for the following financial year. The Board of Directors will continue to extend an invitation to the Annual General Meeting to approve the total remuneration of the Board of Directors and Executive Board once a year and separately.

Information on Compensation Governance can be found in the relevant passages of the Organisational Regulations and is not listed separately here.

Market-compliant remuneration

To ensure that the remuneration of members of the Executive Board and the Board of Directors conforms to standard market practice, Alpiq regularly engages independent external consultancy firms to evaluate overall remuneration packages relative to the market environment. The most recent market comparison of remuneration of the Board of Directors and Executive Board was performed by HCM Hostettler & Company in mid-2018 at Alpiq’s instigation. The amount and structure of remuneration were analysed, using listed electricity and energy companies in Switzerland and Europe of a similar size with comparable structures and operations, as well as industrial companies as a benchmark.

Remuneration policy

Members of the Board of Directors receive fixed remuneration, additional expense allowances and statutory pension benefits. These components are not performance-related. The amount of fixed remuneration depends on whether an office is held as Chairman or as a Board member, as well as on mandates held in other committees of the Board of Directors. Apart from statutory social security contributions and pension contributions if they have pensions with the Swiss pension fund “Stiftung Pensionskasse Energie” (PKE), members of the Board of Directors do not receive any other pension benefits.

Members of the Executive Board receive a fixed salary and a reward. They also receive a company car allowance, an expense allowance and, if requested, a GA travelcard for 1st class travel. The reward is based on performance and value. The reward is not guided by targets set at the start of the financial year, but is evaluated by the NRC on a discretionary basis, taking into account the value-adding factors that have been achieved. It is approved by the Board of Directors and the Annual General Meeting (consultative vote) after the end of the financial year. The reward can range between 0 % and 133 %. All members of the Executive Board are covered by statutory social security and the PKE pension fund.

Remuneration paid to the Board of Directors

Remuneration in 2020

CHF thousand

 

Fixed remuneration

Expense allowances

Other remuneration

Jens Alder 1

Chairman of the Board of Directors

631.8 2

3

246.7 4

Jean-Yves Pidoux

Deputy Chairman of the Board of Directors, Lead Director

110.0

12.0

 

Conrad Ammann

 

104.0

12.0

 

Tobias Andrist

 

104.0

12.0

 

Dominique Gachoud

(until extraordinary AGM of 29 October 2020)

86.1

9.9

9.9

Aline Isoz

(from AGM 2020)

47.8

6.2

 

Jørgen Kildahl

 

104.0

12.0

17.0

Alexander Kummer-Grämiger

 

92.0

12.0

 

Anne Lapierre

(until extraordinary AGM of 29 October 2020)

76.2

9.9

12.4

René Longet

(until AGM 2020)

44.5

5.8

 

Wolfgang Martz

Chairman of the Nomination & Remuneration Committee

116.0

12.0

 

Hans Ulrich Meister

Chairman of the Audit and Risk Committee

116.0

12.0

18.9

Heinz Saner

(until extraordinary AGM of 29 October 2020)

86.1

9.9

1.6

Phyllis Scholl

 

104.0

12.0

 

Total

 

1,822.5

137.7

306.5

1 Includes compensation for the role of Chairman of the Board of Directors and Delegate of the Board of Directors.

2 Includes a GA travelcard for 1st class travel.

3 Reimbursement of actual expenses, no expense allowance.

4 Effective 1 January 2020, Jens Alder is covered by the PKE pension fund.


Remuneration in 2019

CHF thousand

 

Fixed remuneration

Expense allowances

Other remuneration

Jens Alder 1

Chairman of the Board of Directors

806.3 2

3

116.1

Jean-Yves Pidoux

Deputy Chairman of the Board of Directors, Lead Director

110.0

12.0

 

Conrad Ammann

 

104.0

12.0

 

Tobias Andrist

 

104.0

12.0

 

Dominique Gachoud

 

65.7

7.6

2.8

Jørgen Kildahl

(from 2019 AGM)

37.7

4.4

5.9

Alexander Kummer-Grämiger

 

92.0

12.0

 

Anne Lapierre

(from 2019 AGM)

33.4

4.4

5.2

Wolfgang Martz

Chairman of the Nomination & Remuneration Committee

116.0

12.0

13.6

Hans Ulrich Meister

Chairman of the Audit and Risk Committee (from AGM 2019)

42.1

4.4

6.6

Heinz Saner

 

104.0

12.0

1.9

Phyllis Scholl

(from 2019 AGM)

37.7

4.4

 

René Longet

 

92.0

12.0

 

François Driesen

(until 2019 AGM)

43.3

5.0

 

Birgit Fratzke-Weiss

(until 2019 AGM)

43.3

5.0

 

Patrice Gérardin

(until 2019 AGM)

34.1

4.5

 

Xavier Lafontaine

(until 2019 AGM)

4.5

0.6

 

Claude Lässer

(until 2019 AGM)

38.6

4.5

4.2

John Morris

Chairman of the Audit and Risk Committee (until 2019 AGM)

48.3

5.0

 

Total

 

1,957.0

133.8

156.3

1 Includes compensation for the role of Chairman of the Board of Directors and Delegate of the Board of Directors.

2 Includes a GA travelcard for 1st class travel.

3 Reimbursement of actual expenses, no expense allowance.

Remuneration paid to the Executive Board

 

 

 

 

Sum total Executive Board

CHF

2020

2019

Gross salaries (fixed)

3,044,100

2,726,700

Gross salaries (variable)

632,500

2,695,300

Contributions in kind

130,900

403,300

Pension benefits

977,100

1,066,100

Total

4,784,600

6,891,400

Each member of the Executive Board was paid an additional annual expense allowance of CHF 24,000, and the highest paid member (CEO) received CHF 30,000. Expense allowances for the Executive Board totalled CHF 120,000 in 2020 (previous year: CHF 154,000).

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