QSC AG: Communication services for SMEs – simple, meaningful, efficient.


Members of the Management Board


Jürgen Hermann (born in 1964) 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. Baustert (born 1956) 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 2017


Total Management Board compensation for the 2017 financial year came to € 2,412k, as against € 1,973k in the previous year.

The increase in total compensation was due to the higher level of target achievement for the annual target compared with the previous year, as well as to the variable compensation determined for the multiyear targets after the end of the assessment period.

In the target agreements entered into for the 2017 financial year, a congruent annual target and two separate, equally weighted multiyear targets were agreed for all Management Board members in office in the 2017 financial year. Furthermore, to acknowledge exceptional performance the Supervisory Board granted a special bonus in the form of cash compensation of € 20k to each of the Management Board members. The 2017 annual target, which was linked to the Group’s free cash flow in the 2017 financial year, was reached in full.

The assessment period for multiyear targets covers the financial years from 2015 to 2017.
The multiyear targets are linked to consolidated EBITDA for the 2017 financial year and to the revenues generated in the Cloud segment in the same period. The multiyear sub-target relating to consolidated EBITDA was not fully met. Here, the Management Board members are therefore only entitled to a prorated share of the bonus. By contrast, the lower limit for the multiyear sub-target for Cloud segment sales was not reached, as a result of which the entitlement to variable compensation for this multiyear sub-target was forfeited in full.

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: