Members of the Management Board
CHIEF EXECUTIVE OFFICERJÜRGEN HERMANN
Jürgen Hermann (born 1964 in Waldesch, Germany) studied Economics at the University of the Federal Armed Forces Hamburg. After his studies, he continued his leadership career as an officer in the German Army Signal Corps.
He then served in an executive capacity in the strategy department of Thyssen Telecom AG. In 1997, he joined consulting firm QS Communication Service GmbH. Following QSC AG’s initial public offering in April 2000, as head of the finance department he was responsible for helping to shape the entire build-up of the company. In April, 2009 Jürgen Hermann was appointed as QSG AG's Chief Financial Officer.
He was appointed as Chief Executive Officer effective May 30, 2013, and has since then been responsible for strategy, innovation and communication, in particular.
STEFAN A. BAUSTERTMEMBER OF THE BOARD / CFO
Stefan A. Baustert (born 1956 in Völklingen, Germany) completed a bank training program before studying business administration at the University of Saarland/Germany (degree in business administration) and at Pennsylvania State University (Master of Science).
He began his career in 1986 in the finance department at Thyssen AG, where he was ultimately responsible for cash and capital market measures, investor relations and structured finance. He subsequently helped build up the Thyssen Group’s telecommunications division, acting as CFO at Thyssen Telecom AG through to 1997. In 1997, he moved to the management at E-Plus. Following this company’s sale to KPN, in early 2003 Baustert joined Singulus Technologies AG, initially as CFO and later as CEO. From 2011 to 2013 he was Commercial Director at Rena GmbH.
Stefan A. Baustert has been CFO at QSC AG since January 1, 2015. Alongside finance and accounting, he is also responsible for HR, internal IT, central procurement and investor relations.
Management Board compensation for 2018
Total Management Board compensation for the 2018 financial year came to € 1,132k, as against € 2,412k in the 2017 financial year. This substantial reduction in total compensation was mainly due to the departure of two Management Board members at the end of the 2017 financial year, with only two members still in office in the 2018 financial year. Furthermore, the 2017 financial year’s total compensation figure also included the variable compensation paid for the multiyear targets for the period from 2015 to 2017.
In the target agreements entered into for the 2018 financial year, a congruent annual target and two separate, equally weighted multiyear targets were agreed for all Management Board members in office in the 2018 financial year.
The 2018 annual target, which was linked to the Group’s free cash flow in the 2018 financial year, was reached in full. The assessment period for multiyear targets covers the financial years from 2018 to 2020. The multiyear targets are linked to the consolidated EBITDA margin at the end of the assessment period in 2020 and to the revenues generated in the Cloud segment in the 2020 financial year. No information indicating that the targets agreed for the 2020 financial year cannot be met in full was available at the end of 2018. The share of variable compensation attributable to the multiyear targets will only be accounted for as a component of overall compensation after the expiry of the assessment period and if the agreed multiyear targets have been met.
No loans were granted to Management Board members.
The following table presents individualised information about the number of shares and convertible bonds held by members of the Management Board: