annual Report 2009 - STRATEC Biomedical AG

Report of the board of Management
Report of the supervisory board
THE share
Corporate Governance
Group Management report
Consolidated financial statements
Service
7. Employees
The STRATEC Group grew by a total of 96 new employees
in 2009. Of these, 29 employees joined the Group due
to acquisition of Invitek Gesellschaft für Biotechnik &
Bio design mbH in March 2009. Including the personnel
hired from a temporary employment agency, the STRATEC
Group had 380 employees as of December 31, 2009
(previous year: 284). The average number of personnel
(excluding temporary personnel) employed at the STRATEC
Group increased to 291 (previous year: 238).
Following the largest growth in the development departments
in the company’s history, the number of employees
working in this area also grew significantly.
Personnel expenses rose overall by 24.1 % to u 20.7 million
in the year under report (previous year: u 16.7 million).
This growth in personnel expenses was chiefly due to the
increased workforce in the development departments and
to the Invitek acquisition.
Our stock option program enables longstanding employees
to participate in the value growth they have helped to
achieve for the company.
Our organizational structure is already prepared for further
growth. The largest share of STRATEC’s team works on
development projects. The future growth of the STRATEC
Group can be derived from the duration of development
projects, which as a general rule last 36 months, and the
growth in personnel totals working on development projects.
Today’s teams are working on products scheduled for
market launches between 2010 and 2013 and which will
facilitate the company’s growth far beyond those dates.
We would like to thank our employees for their extraordinary
commitment and their ability and willingness at all
times to give of their best.
8. Basic features of the compensation
system for the Supervisory Board
and the Board of Management
Compensation system of the Supervisory Board
Each member of the Supervisory Board receives fixed compensation
in addition to the reimbursement of his expenses and
the benefits of a pecuniary loss liability insurance policy
concluded by the company for members of the Supervisory
Board at its own expense and at suitable conditions customary
to the market. Furthermore, each member of the Supervisory
Board receives performance-related compensation for each
financial year, the total amount of which is capped at double
(that is twice) the level of fixed compensation. The variable
compensation is structured as follows:
• u 500.00 per complete u 500,000.00 “Result of ordinary
business activities” (pursuant to IFRS)
and an additional amount to be offset of
• u 500.00 per complete u 500,000.00 “Cash flow from
operating activities”.
The Deputy Chairman of the Supervisory Board receives one
and a half times (1.5 times) the aforementioned compensation
and the Chairman of the Supervisory Board receives twice
(2 times) such amount. Moreover, each member of the Supervisory
Board receives a meeting allowance for each meeting
of the Supervisory Board attended in person. The company
reimburses each member of the Supervisory Board for the
sales tax incurred on his compensation. Fixed compensation
is due for payment upon the conclusion of the financial year.
Variable compensation is due for payment upon the approval
or adoption of the annual financial statements.
Compensation system
of the Board of Management
The compensation system for members of the Board of
Management provides for:
• A fixed salary component paid in prorated monthly
installments,
• a variable component which accounts for the performance
of the Group, the personal performance of
the Board member and the economic position of the
company,
• stock option programs based on the resolution adopted
by the Annual General Meeting on May 16, 2007.
stratec Annual Report 2009
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