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STADA Arzneimittel AG: Clarification of the media's incorrect presentation of the remuneration for the STADA Chairman of the Executive Board
DGAP-News: STADA Arzneimittel AG / Key word(s): Miscellaneous
STADA Arzneimittel AG: Clarification of the media's incorrect
presentation of the remuneration for the STADA Chairman of the
Executive Board
10.09.2015 / 13:15
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Bad Vilbel, September 10, 2015 - During a press briefing that took place
today in Frankfurt am Main on the growth strategy of the STADA Group, there
were discussions, among other things, about the amount of remuneration for
the STADA Chairman of the Executive Board Hartmut Retzlaff, which has been
repeatedly misrepresented in the media in the months since the Annual
General Meeting 2015.
Notwithstanding the clear presentation in the Annual Report 2014 and an
interview with Handelsblatt on August 4, 2015 in which Hartmut Retzlaff
clarified the amount of his remuneration, articles in the press have
appeared since then which again mention the incorrect, significantly too
high remuneration. In financial year 2014, the actual compensation for
Hartmut Retzlaff including his variable remuneration amounted to Euro 3.356
million. The fixed remuneration thereby amounted to two million Euro plus
fringe benefits of Euro 142,000, the one-year variable remuneration of Euro
408,000 and the contractually agreed performance-related progress payment
on long-term goals in the amount of Euro 806,000.
At the end of March 2015, the Group, in its Annual Report for financial
year 2014, disclosed salaries and payments for all three STADA Executive
Board members using a model table in accordance with the requirements of
the German Corporate Governance Code. Due to this new method of
presentation, financial contributions were reported for the Executive Board
members in financial year 2014 from contractually agreed long-term goals
which had already been paid out in financial years 2010 to 2013.
With a view to the time pressure which the media today faces, STADA is
aware that in daily editorial work, figures are often used from sources
that cannot always be checked. In light of the situation presented above,
STADA asks that you get in touch with the Media Relations department
insofar as there are questions related to Executive Board remuneration.
Additional information for journalists:
STADA Arzneimittel AG / Media Relations / Stadastraße 2-18 / 61118 Bad
Vilbel - Germany /
Tel.: +49 (0) 6101 603-165 / Fax: +49 (0) 6101 603-215 / E-mail:
press@stada.de
Or visit us in the Internet at www.stada.com
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10.09.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: STADA Arzneimittel AG
Stadastraße 2-18
61118 Bad Vilbel
Germany
Phone: +49 (0)6101 603- 113
Fax: +49 (0)6101 603- 506
E-mail: communications@stada.de
Internet: www.stada.de
ISIN: DE0007251803, DE0007251845,
WKN: 725180, 725184,
Indices: MDAX
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime
Standard); Regulated Unofficial Market in Berlin, Hamburg,
Hanover, Munich, Stuttgart
End of News DGAP News Service
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393697 10.09.2015
Bad Vilbel, September 10, 2015 - During a press briefing that took place
today in Frankfurt am Main on the growth strategy of the STADA Group, there
were discussions, among other things, about the amount of remuneration for
the STADA Chairman of the Executive Board Hartmut Retzlaff, which has been
repeatedly misrepresented in the media in the months since the Annual
General Meeting 2015.
Notwithstanding the clear presentation in the Annual Report 2014 and an
interview with Handelsblatt on August 4, 2015 in which Hartmut Retzlaff
clarified the amount of his remuneration, articles in the press have
appeared since then which again mention the incorrect, significantly too
high remuneration. In financial year 2014, the actual compensation for
Hartmut Retzlaff including his variable remuneration amounted to Euro 3.356
million. The fixed remuneration thereby amounted to two million Euro plus
fringe benefits of Euro 142,000, the one-year variable remuneration of Euro
408,000 and the contractually agreed performance-related progress payment
on long-term goals in the amount of Euro 806,000.
At the end of March 2015, the Group, in its Annual Report for financial
year 2014, disclosed salaries and payments for all three STADA Executive
Board members using a model table in accordance with the requirements of
the German Corporate Governance Code. Due to this new method of
presentation, financial contributions were reported for the Executive Board
members in financial year 2014 from contractually agreed long-term goals
which had already been paid out in financial years 2010 to 2013.
With a view to the time pressure which the media today faces, STADA is
aware that in daily editorial work, figures are often used from sources
that cannot always be checked. In light of the situation presented above,
STADA asks that you get in touch with the Media Relations department
insofar as there are questions related to Executive Board remuneration.
Additional information for journalists:
STADA Arzneimittel AG / Media Relations / Stadastraße 2-18 / 61118 Bad
Vilbel - Germany /
Tel.: +49 (0) 6101 603-165 / Fax: +49 (0) 6101 603-215 / E-mail:
press@stada.de
Or visit us in the Internet at www.stada.com
---------------------------------------------------------------------
10.09.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: STADA Arzneimittel AG
Stadastraße 2-18
61118 Bad Vilbel
Germany
Phone: +49 (0)6101 603- 113
Fax: +49 (0)6101 603- 506
E-mail: communications@stada.de
Internet: www.stada.de
ISIN: DE0007251803, DE0007251845,
WKN: 725180, 725184,
Indices: MDAX
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime
Standard); Regulated Unofficial Market in Berlin, Hamburg,
Hanover, Munich, Stuttgart
End of News DGAP News Service
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393697 10.09.2015
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