Compensation of the Executive Committee for 2024
The following table discloses the actual compensation paid to the members of the Executive Committee in detail for financial year 2024 while performing services for medmix.
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2024 |
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Cash compensation |
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Deferred compensation |
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thousands of CHF |
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Base salary |
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Bonus 2) |
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Other 3) |
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Pension and social security contributions 4) |
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Total cash-based compen- sation |
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Estimated value of share-based grant under the Perfor- mance Share Plan (PSP) / Restricted Share Units (RSU) 5) |
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Total (incl. conditional share-based grant) |
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thereof highest single compensation R. Willi, CEO |
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350 |
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273 |
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169 |
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209 |
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1’001 |
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2’553 |
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3’554 |
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Total Executive Committee 1) |
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1’950 |
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1’212 |
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448 |
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950 |
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4’560 |
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2’940 |
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7’499 |
1) The total Executive Committee compensation for 2024 includes the compensation of René Willi, CEO since June 2024; Jennifer Dean, CFO; Itee Satpathy, Chief Human Resources Officer; Xavier Schops, Chief Legal Officer; Girts Cimermans, former CEO on garden leave until 30 April 2025.
2) Expected bonus for the performance year 2024 to be paid out in the following year (accrual principle).
3) Other includes child- , schooling- , insurance- and car allowances, and tax services. For 2024, this category also includes (i) a one-time payment to J. Dean for the additional work in the interim period after Girts Cimermans stepped down and before René Willi assumed his position as CEO.
4) Includes the employer contribution to social security.
5) Represents the full fair value of the PSUs granted under PSP 2024. Grant price was CHF 16.40 (three-month volume weighted average share price) and the fair value was CHF 15.11 based on a third-party calculation. Inlcuded is also an RSU award of CHF 2 million (full fair value at grant) to R. Willi to compensate for forfeited Long Term Incentive at the previous employer as a result of joining medmix.
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2023 |
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Cash compensation |
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Deferred compensation based on future performance |
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thousands of CHF |
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Base salary |
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Bonus 1) |
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Other |
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Pension and social security contributions 2) |
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Total cash-based compen- sation |
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Estimated value of share-based grant under the Perfor- mance Share Plan (PSP) 3) |
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Total (incl. conditional share-based grant) |
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thereof highest single compensation G. Cimermans, CEO |
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550 |
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216 |
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25 |
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277 |
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1’068 |
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698 |
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1’765 |
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Total Executive Committee 4) |
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1’325 |
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407 |
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29 |
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623 |
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2’383 |
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1’065 |
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3’449 |
1) Expected bonus for the performance years 2023, to be paid out in the following year (accrual principle).
2) Includes the employer contribution to social security.
3) Represents the full fair value of the PSUs granted under PSP 2023. Grant price was CHF 17.85 (three-month volume weighted average share price) and the fair value was CHF 22.64 based on a third-party calculation.
4) The total Executive Committee compensation for 2023 includes the compensation of Girts Cimermans, CEO; Jennifer Dean, CFO; Itee Satpathy, Chief Human Resources Officer; Xavier Schops, Chief Legal Officer, Executive Committee member since November 1, 2023.
The total compensation of kCHF 7'499 awarded to the members of the Executive Committee for the financial year 2024 is within the maximum aggregate compensation amount of kCHF 8'500 that was approved by the shareholders at the 2023 AGM for financial year 2024.
No severance payments to members of the Executive Committee were made during the reporting year or the prior year. As of December 31, 2024 and 2023, respectively, there were no outstanding loans or credits granted to the members of the Executive Committee or related parties. In 2024 and 2023, respectively, no compensation, loans or credits were granted to former members of the Executive Committee or related parties.