Home  English Website Company Management Executive Board

STADA Management

Executive Board

Hartmut Retzlaff Chairman of the Executive Board/CEO (under contract until 8/31/2016)

Helmut Kraft Chief Financial Officer (under contract until 12/31/2014)

Dr. Axel Müller Chief Production & Development Officer (under contract until 12/31/2014)

Dr. Matthias Wiedenfels Chief Corporate Development & Central Services Officer (under contract until 12/31/2016)

The members of the Executive Board can be reached at the business address of STADA Arzneimittel AG.

Renumeration of the Executive Board

In line with the Annual General Meeting which took place on June 16, 2011¹⁾ the following system for the remuneration of the Executive Board members was approved:

The remuneration of the Executive Board members in the framework of this remuneration system is made up of remuneration not related to performance and a performance related remuneration. Stock option plans and other comparable components with a long-term incentive effect do not exist.

The non-performance related remuneration consists of an agreed basic salary paid out in twelve equal monthly installments. This annual fixed salary is determined in accordance with the requirements of stock company law under consideration of usual market remuneration. The members of the Executive Board receive other remuneration only in the form of fringe benefits, which consist for the most part of the private use of a company car, contributions to health and nursing care insurance and other insurance services (accident insurance, among other things). In the framework of the revised remuneration structure, individual contractual commitments still remain fundamentally possible for individual Executive Board members, in accordance with VorstAG regulations, regarding additional non-performance related remuneration components, e.g. pension commitments or commitments in case of termination of activity.

The performance related remuneration is, in principle, similarly structured for all Executive Board members; it can, however, differentiate in the individual arrangement and amount for individual Executive Board members due to individual contractual agreements. The performance related remuneration is made up of the following components for each Executive Board member:

• the variable annual bonus, which consists of an earnings related and an objectives related bonus component and for which a cap has been agreed upon. To this end, while the earnings related bonus component of this variable annual bonus is oriented on the adjusted EBITDA of the Company of the respective financial year, the objectives related bonus component of the variable annual bonus remunerates for the achievement of specific pre-determined, written goals which are individually agreed upon with individual Executive Board members for the respective financial year (personal goal agreement).
• the variable long-term special remuneration, for which defined annual progress payments are to be rendered by the Company upon the reaching of annual interim goals set out in individual contracts and which target the company’s overall business success in a defined target year. The long-term goal thereby taken as a basis in individual contracts, as well as the annual interim goals, are geared to a challenging adjusted Group EBITDA under the assumed framework conditions for the period under consideration; the target year for the variable long-term special remuneration should, at the earliest, generally be the third whole financial year after the beginning of the contract of the respective Executive Board contract. If the long-term goal agreed upon for the variable special long-term remuneration is not reached in consideration of the agreed corridor of a degree of goal attainment, the Company is entitled to the repayment of rendered progress payments in the case that the interim goals of the agreed corridor are not reached. A cap for the variable long-term special remuneration must also be agreed upon.

1)	The voting results of the decisions taken at the Annual General Meeting of June 16, 2011 are published on the Company’s website at www.stada.de and www.stada.com at least by the end of the current financial year.