Porsche 2012 Annual Report Download - page 63

Remuneration report
The remuneration report describes the main
features of the remuneration system for members of
the executive board and supervisory board of
Porsche SE and explains the basic structure, com-
position and the individualized amounts of remuner-
ation. In addition, the report includes disclosures on
other benefits granted or promised to active mem-
bers of the executive board in the event of termina-
tion of their service.
Remuneration of the executive board
Remuneration principles at Porsche SE
At regular intervals the supervisory board addresses
remuneration matters concerning the executive
board, examining the structure and amount of re-
muneration of the executive board in the process. In
light of the reorganization and the resulting realign-
ment of Porsche SE, in the fiscal year 2012 the
supervisory board again addressed the structure of
the remuneration of the members of the Porsche SE
executive board, which was last amended in the
fiscal year 2009/10, and decided on further
amendments. These pertain to the remuneration
structure for the executive board members Matthias
Müller (strategy and corporate development) and
Philipp von Hagen (investment management), for
whom a variable remuneration system was intro-
duced for the first time for the fiscal year 2012. In
this connection, the remuneration received by Mr.
Müller from Porsche AG was also adjusted. Since 1
January 2012, he has no longer received variable
remuneration from Porsche AG.
The supervisory board of Porsche SE explicitly
reserves the option of also introducing a variable
remuneration system for members of the executive
board of the company who have not received per-
formance-related remuneration to date.
The members of the executive board Prof. Dr.
Dr. h.c. mult. Martin Winterkorn (CEO) and Hans
Dieter Pötsch (CFO) receive a fixed basic compo-
nent, which is paid out as a monthly salary, for their
work at the company. This was also the case for
Mr. Thomas Edig, who left the executive board of
Porsche SE as of the end of the day on 29 February
2012, and who had been responsible for commer-
cial and administrative issues up to that time.
For the fiscal year 2012, the member of the ex-
ecutive board Matthias Müller for the first time re-
ceives variable remuneration from the company in
addition to a fixed basic component paid out in
monthly amounts. Mr. von Hagen, who was ap-
pointed as a member of the executive board of
Porsche SE with effect as of 1 March 2012, also
receives variable remuneration in addition to a fixed
basic component paid out in monthly amounts.
The amount of the variable remuneration of the-
se members of the executive board of Porsche SE
is specified by the supervisory board at its discre-
tion, taking into account the respective business
and earnings situation, as well as the performance
of the individual executive board member. Perfor-
mance is measured specifically in terms of the
extent to which the individual (in some cases, differ-
ently weighted) targets agreed with the member of
the executive board for the respective fiscal year
have been achieved.
The individual targets are based on the busi-
ness area of the respective executive board function
and refer to the parameters presented below for the
term of the agreement.
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