Remuneration of the President and CEO

The Remuneration Policy describes the policy and governance for the remuneration of the President and CEO.

The President and CEO Jacob Götzsche started in his position on 9 August 2021. His annual fixed base salary is EUR 620,000. In addition, Jacob Götzsche is entitled to customary fringe benefits.

The President and CEO Jacob Götzsche's short-term incentive annual earning opportunity for 2022 will be at the target level 40% and at the maximum level 80% of the annual fixed base salary. 

President and CEO's pension, retirement age and termination compensation

The company will not provide a pension coverage for the President and CEO Jacob Götzsche, but to compensate for this he is paid an additional 20% cash allowance calculated of his fixed annual base salary to obtain a pension coverage by himself. No specific retirement age has been agreed.

In case of termination, the notice period is six months for both parties. The President and CEO Jacob Götzsche is entitled to a severance pay of 12 months’ base salary if the Company terminates the agreement at convenience.

President and CEO remuneration during 2014 – 2020 is described in the Remuneration Reports.