Remuneration of the Supervisory Board

The remuneration of the Supervisory Board is determined by the shareholders at the Annual General Meeting and is regulated in Article 13 of the Articles of Association of Vonovia.

The current Supervisory Board remuneration system is based on the resolution passed by the Annual General Meeting on June 9, 2013.

Each member of the Supervisory Board receives annual fixed basic remuneration of € 100,000. The Chairman of the Supervisory Board receives double this amount and a Deputy Chairman receives one-and-a-half times this amount.

The members of the Audit Committee receive additional annual fixed remuneration of € 40,000; the Audit Committee Chairman receives double this amount. Supervisory Board members who are members of one or more other Supervisory Board committees that have acted at least once a year receive additional annual remuneration of € 20,000 per committee; in the case of the Committee Chairman € 40,000.

The sum total of all aforementioned remuneration plus remuneration for membership of Supervisory Boards and comparable supervisory bodies of Group companies must not exceed an amount of € 300,000 per calendar year and Supervisory Board member.

The company reimburses the Supervisory Board members for appropriate expenses incurred due to the exercising of their office. VAT is reimbursed by the company to the extent that the Supervisory Board members are eligible to separately invoice VAT and have exercised such right.

The remuneration of the Supervisory Board of Vonovia breaks down as follows for each member – on a pro rata basis according to the length of service on the Supervisory Board:

 

 

Fixed remuneration

 

Remuneration for committee work

 

Total remuneration

(1)

Chairman of the Audit Committee

(2)

Member of the Audit Committee

(3)

Chairman of the Executive and Nomination Committee

(4)

Member of the Executive and Nomination Committee

(5)

Chairman of the Finance Committee

(6)

Member of the Finance Committee

in €

 

2016

 

2017

 

2016

 

2017

 

2016

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

Supervisory Board members in office as of December 31, 2017

 

 

 

 

 

 

 

 

 

 

 

 

Prof. Dr Edgar Ernst1,3,6 (since June 18, 2013) Chairman since September 7, 2017

 

150,000

 

166,667

 

80,000

 

100,000

 

230,000

 

266,667

Burkhard Ulrich Drescher2 (since December 12, 2014)

 

100,000

 

100,000

 

40,000

 

40,000

 

140,000

 

140,000

Dr Florian Funck2 (since August 21, 2014)

 

100,000

 

100,000

 

40,000

 

40,000

 

140,000

 

140,000

Dr Ute Geipel-Faber6 (since November 1, 2015)

 

100,000

 

100,000

 

20,000

 

20,000

 

120,000

 

120,000

Hendrik Jellema2 (since June 2, 2015)

 

100,000

 

100,000

 

40,000

 

40,000

 

140,000

 

140,000

Daniel Just6 (since June 2, 2015)

 

100,000

 

100,000

 

20,000

 

20,000

 

120,000

 

120,000

Hildegard Müller4 (since June 18, 2013)

 

100,000

 

100,000

 

20,000

 

20,000

 

120,000

 

120,000

Prof. Dr Klaus Rauscher4 (since August 1, 2008) Deputy Chairman since September 7, 2017

 

100,000

 

116,667

 

20,000

 

20,000

 

120,000

 

136,667

Dr Ariane Reinhart4 (since May 13, 2016)

 

66,667

 

100,000

 

13,333

 

20,000

 

80,000

 

120,000

Clara-Christina Streit4,5 (since June 18, 2013)

 

100,000

 

100,000

 

60,000

 

60,000

 

160,000

 

160,000

Christian Ulbrich6 (since August 21, 2014)

 

100,000

 

100,000

 

20,000

 

20,000

 

120,000

 

120,000

Former Supervisory Board members

 

 

 

 

 

 

 

 

 

 

 

 

Dr. Wulf H. Bernotat2,3,6 (until Aug. 26, 2017) Chairman

 

200,000

 

166,667

 

100,000

 

33,333

 

300,000

 

200,000

Gerhard Zeiler4 (until May 12, 2016)

 

41,667

 

 

8,333

 

 

50,000

 

Total

 

 

 

 

 

 

 

 

 

1,840,000

 

1,783,334

All remuneration is payable after the expiry of each fiscal year. Supervisory Board members who are Supervisory Board members or members of a committee of the Supervisory Board for only part of a fiscal year receive corresponding pro rata remuneration rounded up to the full month.

Furthermore, Vonovia has taken out a liability insurance (D&O insurance) for the members of the Supervisory Board. Vonovia follows the statutory requirements, which provide for a deductible of 10% of any claim up to an amount of one-and-a-half times the fixed annual remuneration for all claims in one fiscal year.