Mercedes 2008 Annual Report Download - page 128

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124
This adds up to a total of €16.6 million for the year 2008 (2007:
€37.7 million). The figures for 2007 also include payments made
to the members of the Board of Management who departed in
the context of the Chrysler transaction. For the year 2007, those
persons also received bonuses and severance payments of €18.5
million connected with the transaction and their departure from
the Board of Management.
Excluding the departing members of the Board of Management,
the total remuneration for the active members of the Board of
Management decreased significantly from €30.2 million in 2007
to €16.6 million in 2008. The main reason for this sharp decrease
compared with the prior year is the reduction in the operating
profit (EBIT) from €8.71 billion to €2.73 billion, which results in a
significantly lower annual bonus.
The following table shows the base salary and the variable remu-
neration of the active members of the Board of Management for
the year 2008 compared with 2007. German Accounting Stan-
dard DRS 17, which is valid as of the year 2008, was used for the
first time in the presentation of the figures for both years. In line
with DRS 17, the long-term share-based remuneration is shown
with the value of the phantom shares when they were granted in
February 2008 and 2007. The numbers of phantom shares gran-
ted may change by the time the plans are paid out in 2011 and
2012. The question of whether there is a pay out at all, and if so,
in which amounts, depends on the accomplishment of Daimler’s
internal and external performance targets during this period.
2008
2007
2008
2007
2008
2007
2008
2007
2008
2007
2008
2007
2008
2007
1,530
1,500
545
525
560
550
575
550
660
600
545
525
4,415
4,250
494
5,395
199
1,787
203
1,753
207
1,910
233
2,135
199
1,787
1,535
14,767
50,164
55,826
21,297
24,107
20,613
22,838
22,392
24,868
23,988
26,644
21,297
24,107
159,751
178,390
2,799
2,928
1,188
1,264
1,150
1,198
1,250
1,304
1,339
1,398
1,188
1,264
8,914
9,356
4,823
9,823
1,932
3,576
1,913
3,501
2,032
3,764
2,232
4,133
1,932
3,576
14,864
28,373
Amounts in thousands of €
Board of Management remuneration 2008
NumberBase salary Total
Dr. Dieter Zetsche
Günther Fleig
Dr. Rüdiger Grube
Andreas Renschler
Bodo Uebber
Dr. Thomas Weber
Total
Note: The value at the end of 2008 of the phantom shares granted in February 2008 was €4,230 thousand; the value for example of the phantom shares granted
to the Chairman of the Board of Management was €1,328 thousand.
Short-term varia-
ble remuneration
(annual bonus) Value when granted
(2008: at share price €55.80)
(2007: at share price €52.45)
Long-term variable remuneration
((PPSP)