Board of Management remuneration in 2012

Total Board of Management remuneration in 2012. The total remuneration granted by Group companies to the members of the Board of Management of Daimler AG is calculated as the total of the amounts of

  • the base salary in 2012,
  • the half of the annual bonus for 2012 payable in 2013,
  • the half of the medium-term share-based component of the annual bonus for 2012 payable in 2014 with its value at the balance sheet date (entitlement depending on the development of Daimler’s share price compared with the Dow Jones STOXX Auto Index),
  • the value of the long-term share-based remuneration for 2012 at the time when granted, and
  • the taxable non-cash benefits in 2012.

For both of the share-based components – the second 50% of the annual bonus and the PPSP with a long-term orientation – the amounts actually paid out can deviate significantly from the values described depending on the development of the Daimler share price and on the achievement of the relevant target parameters.

The remuneration of the Board of Management for the year 2012 amounts to €28.2 million (2011: €29.0 million). Of that total, €7.5 million was fixed, that is, non-performance-related remuneration (2011: €7.4 million), €9.3 million was variable, that is, short- and medium-term performance-related remuneration (2011: €12.8 million), and €11.4 million was variable performance-related remuneration granted in 2012 with a long-term incentive effect (2011: €8.8 million). (See table 3.43)

3.43

Board of Management Remuneration 2012          
    Base salary Short and medium-term variable
remuneration (annual bonus) 
Long-term variable remuneration
(PPSP)
Total
      Short-term  Medium-term Number Value when granted
(2012: at share price €48.23)
(2011: at share price €51.08)
 
In thousands of euros
               
Dr. Dieter Zetsche 2012 2,008 1,426 1,426 68,273 3,293 8,153
  2011 2,008 2,038 2,038 50,311 2,570 8,654
Dr. Wolfgang Bernhard1 2012 715 508 508 27,309 1,316 3,047
  2011 715 726 726 20,125 1,026 3,193
Dr. Christine Hohmann-Dennhardt 2012 715 526 526 27,309 1,317 3,084
  2011 624 618 618 17,609 899 2,759
Wilfried Porth2 2012 715 508 508 27,309 1,229 2,960
  2011 715 708 708 20,125 966 3,097
Andreas Renschler3 2012 755 536 536 30,487 1,460 3,287
  2011 755 747 747 22,467 1,148 3,397
Hubertus Troska 2012 37 24 24 85
  2011
Bodo Uebber4 2012 866 636 636 32.647 1.402 3.540
  2011 866 879 879 24,058 1,054 3,678
Prof. Dr. Thomas Weber 2012 715 490 490 28,998 1,399 3,094
  2011 715 726 726 21,369 1,092 3,259
Total 2012 6,526 4,654 4,654 242,332 11,416 27,250
  2011 6,398 6,442 6,442 176,064 8,755 28,037
1 Taking into account supervisory board remuneration of €1,250.
2 Taking into account supervisory board remuneration of €88,460.
3 Taking into account supervisory board remuneration of €10,913.
4 Taking into account supervisory board remuneration of €173,048.

When comparing with the prior-year figures, with regard to the total of base salary, the annual bonus and the PPSP granted, it is necessary to consider the appointment of Mr. Troska taking effect as of December 13, 2012. The same applies to Dr. Hohmann-Dennhardt for the year 2011.

The granting of non-cash benefits in kind, primarily the reimbursement of expenses for security precautions and the provision of company cars, resulted in taxable benefits for the members of the Board of Management in 2012 as shown in the table. 

3.44

Non-cash benefits and other benefits
  2012   2011
In thousands of euros      
       
Dr. Dieter Zetsche 151   159
Dr. Wolfgang Bernhard 63   71
Dr. Christine Hohmann-Dennhardt 191   121
Wilfried Porth 114   123
Andreas Renschler 152   169
Hubertus Troska 4  
Bodo Uebber 112   165
Prof. Dr. Thomas Weber 156   149
       
Total 943   957