Annual report 2018

Galenica annual report 2018 | 73 Except for the expense allowance and the right to use a company car in line with the car policy applicable to all man- agers, the CEO and the members of the Corporate Execu- tive Committee do not receive any particular additional ben- efits. The monetary value of the allowance – where related to salary, i.e. company cars – is disclosed at fair value in the remuneration table. Remuneration of the Board of Directors 2018 Remuneration of members of the Board of Directors The remuneration of members of the Board of Directors is independent of the performance of the company and com- prises a fixed salary depending on their function assumed in the Board of Directors and its committees, either as a member or chairperson of a committee. Such remuneration may be drawn fully or half in shares of Galenica blocked for five years. In addition, after a period of two years, each member of the Board is required to hold shares of Galenica equal in value to at least one annual salary which remain blocked during their mandate. Remuneration settled in the form of shares of Galenica was paid at the average price for the month of December 2018, i.e. CHF 44.90 per share. The members of the Board of Directors do not participate in the employee benefit plans. The only exception is Jörg Kneubühler, who as former CEO is still insured with the pen- sion fund. However, Galenica does not pay any pension fund contributions for him. In comparison to 2017, the remuneration amounts for the Board of Directors have not changed in 2018. Remuneration amounts of the Board of Directors (in thousand CHF, per year) Chairman 490 Board member 110 Committee chair 30 Committee member 10 Remuneration of the members of the Board of Directors in 2018 Fee Number of shares in thousand CHF Fee in cash Equivalent in shares Other remuneration 1) Total Held as at 31.12.2018 2) Allocated for 2018 Jörg Kneubühler, Chairman 245 326 30 3) 601 29,250 7,270 Daniela Bosshardt-Hengartner — 213 11 224 3,074 4,748 Michel Burnier 60 80 6 146 2,459 1,780 Fritz Hirsbrunner — 173 6 179 3,299 3,858 Bertrand Jungo 40 53 5 98 — 1,187 Philippe Nussbaumer — 160 8 168 4,044 3,561 Andreas Walde — 187 9 196 2,869 4,154 Remuneration of the members of the Board of Directors 4) 345 1,192 75 1,612 44,995 26,558 Maximum amount according to GM resolution 1,650 1) Other remuneration corresponds to the social security costs due from the member of the Board of Directors but paid by Galenica. The employer’s contributions to social security costs for 2018 amounted to CHF 75,000 2) Shares held by related parties of members of the Board of Directors are included in the declaration of the totals disclosed above 3) The employer’s contributions to the pension fund as well as the employee’s contributions were paid by Jörg Kneubühler 4) See from page 52 of the Corporate Governance section for roles and membership of committees Remuneration Report Galenica