Annual Report 2017

Board of Management remuneration in financial year 2017

Board of Management remuneration in 2017 pursuant to Section 314 Subsection 1 No. 6 of the German Commercial Code (HGB)

The total remuneration granted by Group companies (excluding retirement benefit commitments) to the members of the Board of Management of Daimler AG is calculated as the total of the amounts of

  • the base salary in 2017,
  • the half of the annual bonus for 2017 payable in 2018 and measured as of the end of the reporting period,
  • the half of the medium-term share-based component of the annual bonus for 2017 payable in 2019 with its value at the end of the reporting period (entitlement depending on the development of Daimler’s share price compared with the Dow Jones STOXX Auto Index),
  • the value of the long-term share-based remuneration (PPSP) at the time when granted in 2017, and
  • the taxable non-cash benefits in 2017.

For both of the share-based components — the second 50 % of the annual bonus and the PPSP with a long-term orientation — the amounts actually paid out can deviate significantly from the values described depending on the development of the Daimler share price and on the achievement of the relevant target parameters. Upward deviation is possible only as far as the maximum limits described above. Both components can also be zero.

The possible limits with regard to the annual bonus and the PPSP are shown in B.49 and B.50.

Daimler AR2017 B.49 Annual bonus
Daimler AR2017 B.50 PPSP 2013 paid in 2017

The total remuneration of the Board of Management for the financial year 2017 amounts to €35.0 million (2016: €31.8 million). Of that total, €9.5 million was fixed, that is, non-performance-related remuneration (2016: €10.0 million), €15.3 million (2016: €11.6 million) was short-term and medium-term variable performance-related remuneration (annual bonus with deferral), and €10.2 million was variable performance-related remuneration granted in the financial year 2017 with a long-term incen­tive effect (2016: €10.2 million). (See table B.51)

B.51 Board of Management remuneration in 2017

    Base
salary
Variable remuneration
(annual bonus)
 Remuneration (PPSP)
    Number         Value when granted
Total
      Short-term Medium-term   (2017: at share price €67.49)
(2016: at share price €62.94)
In thousands of euros
               
Dr. Dieter Zetsche 2017 2,008 1,978 1,978 39,315 2,653 8,617
  2016 2,008 1,516 1,516 40,838 2,570 7,610
Dr. Wolfgang Bernhard1 2017 92 90 90 272
  2016 824 622 622 18,236 1,148 3,216
Martin Daum2 2017 677 667 667 15,446 1,043 3,054
  2016
Renata Jungo Brüngger 2017 812 800 800 15,446 1,043 3,455
  2016 781 590 590 16,336 1,028 2,989
Ola Källenius 2017 812 800 800 15,446 1,043 3,455
  2016 781 590 590 16,336 1,028 2,989
Wilfried Porth 2017 812 800 800 16,148 1,090 3,502
  2016 781 590 590 17,078 1,075 3,036
Britta Seeger 2017 812 800 800 15,446 1,043 3,455
  2016
Hubertus Troska 2017 812 800 800 15,446 1,043 3,455
  2016 781 590 590 16,336 1,028 2,989
Bodo Uebber 2017 947 932 932 18,464 1,246 4,057
  2016 928 701 701 19,528 1,229 3,559
Dr. Thomas Weber 2017
  2016 781 590 590 17,345 1,092 3,053
               
Total 2017 7,784 7,667 7,667 151,157 10,204 33,322
  2016 7,665 5,789 5,789 162,033 10,198 29,441

Board of Management remuneration paid until Feb. 10, 2017

2 Board of Management remuneration paid from March 1, 2017

The granting of non-cash benefits in kind, primarily the reimbursement of expenses for security precautions and the provision of company cars, resulted in taxable benefits for the members of the Board of Management in 2017 as shown in table B.52.

B.52 Taxable non-cash benefits and other fringe benefits

  2017 2016
In thousands of euros    
     
Dr. Dieter Zetsche1 167 618
Dr. Wolfgang Bernhard2 9 131
Martin Daum3 235
Renata Jungo Brüngger 108 107
Ola Källenius 95 393
Wilfried Porth 146 171
Britta Seeger 366
Hubertus Troska4 470 635
Bodo Uebber 107 163
Prof. Dr. Thomas Weber 129
     
Total 1,703 2,347

(2016: including an anniversary bonus of €418,464)

Board of Management remuneration paid until Feb. 10, 2017

Board of Management remuneration paid from March 1, 2017

For the fulfillment of disclosure obligations pursuant to Section 285 No. 9a of the German Commercial Code (HGB), this amount is reduced by €197,508 for the year 2017 (2016: €208,136). The corresponding fringe benefits were granted and borne by a subsidiary and are thus not included in the remuneration to be disclosed in the annual financial statements of the parent company, Daimler AG.

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Principles of Board of Management remuneration