Swisscom’s remuneration policy in relation to the Group Executive Board is designed to attract and retain highly qualified and motivated professionals and executive personnel in the long term, and to provide the latter with an incentive for the sustainable enhancement of corporate value. It is systematic, transparent and long-range.
The total remuneration paid to the highest-earning member of the Group Executive Board (CEO, Urs Schaeppi) decreased by 2.1% compared to the prior year. The decrease in total remuneration paid to the Group Executive Board and the CEO is primarily attributable to the lower variable remuneration as compared to the prior year.
|CHF in thousands||
|Fixed base salary paid in cash||3,694||3,736||882||882|
|Variable performance-related salary component in cash||1,874||1,966||459||486|
|Variable earnings-related compensation paid in shares (1)||886||901||182||193|
|Service-related and non-cash benefits||95||92||22||21|
|Employer contributions to social security (2)||575||591||137||145|
|Total remuneration to members of the Group Executive Board||8,016||8,133||1,829||1,868|
|Benefits paid following retirement from the Group Executive Board (3)||605||629||-||-|
|Total remuneration paid to members of the Group Executive Board, including benefits paid following retirement from the Group Executive Board||8,621||8,762||1,829||1,868|
(1) The shares are reported at market value and are blocked from sale for three years.
(2) Employer contributions to social security (AHV, IV, EO and FAK, incl. administration costs, and daily sickness benefits and accident insurance) are included in the total remuneration.
(3) Contractual compensation payments made during the notice period to a Group Executive Board member who resigned from the Board during the previous year.
Since 2013, the members of the Group Executive Board have been required to hold a minimum amount of Swisscom shares. The minimum shareholding to be held by the CEO shall be equivalent to two years' base salary and one year for the members of the Group Executive Board. The members of the Group Executive Board have four years to acquire their shareholding. The number of blocked and non-blocked shares held by members of the Group Executive Board and and/or related parties as at 31 December 2018 and 2017 are as follows:
|Group Executive Board members||Number of
shares as at
shares as at
|Urs Schaeppi (CEO)||4,380||3,964|
|Hans C. Werner||1,259||1,068|
|Total shares of the members of the Board of Directors||11,030||8,953|