Annual Report 2005/06 - voestalpine

quantitative targets are EBIT and the return on capital employed or
ROCE. The concrete target figures are periodically determined by the
Supervisory Board Committee in consultation with the Management
Board. The qualitative targets consist of two to four individual targets,
relating in particular to the areas of strategy, cost management and
organization.
The level of the contractually agreed company pension is governed by
the length of service. The level of the annual pension per year of service
is 1.2% of the last annual gross salary. However, the maximum
pension entitlement cannot exceed 40%.
The members of the Management Board receive a severance package at
the time of leaving their employment, by way of analogous application
of the Salaried Employees’ Act.
The compensation paid to the active members of the Management
Board of voestalpine AG breaks down as follows:
2005/06 2004/05
Fixed compensation element 2.1 2.5
Variable compensation element 4.8 3.6
6.9 6.1
In millions of euros
The remuneration of a former member of the Management Board in
the period under review amounted to EUR 2.0 million. No advances or
loans were granted to the members of the Management Board of
voestalpine AG.
supervisory Board
At the annual shareholders’ meeting of the company on June 30, 2005,
it was resolved that, in place of the previous fixed emoluments, all of
the elected members of the Supervisory Board would in future be paid
an amount of 0.1% of the annual surplus as remuneration.
Consolidated Financial Statements
Annual Report 2005/06
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