CHIEF EXECUTIVE OFFICERJÜRGEN HERMANNJürgen Hermann (*1964) is QSC’s CEO and responsible for Strategy, Communications and Marketing. After a career as a military officer and having graduated in economics, he worked at Thyssen Telecom before joining QSC AG as one of its first employees in 1997. Since the Company’s foundation, Jürgen Hermann has played a key role in shaping its development. He became Chief Financial Officer in 2009. As CEO of INFO AG, a company taken over by QSC, he pressed ahead with developing QSC’s IT strategy. In 2013, Jürgen Hermann was appointed as CEO of QSC.
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: