Migros has a clearly defined remuneration policy. The remuneration of Migros’ management is based on predetermined salary bands. The Board of Directors of the Federation of Migros Cooperatives issues guidelines for the remuneration of the other organs.
The salary bands define minimum and maximum salaries for the various management levels. They are regularly reviewed and adjusted by the Board of Directors of the Federation of Migros Cooperatives (FMC) and must be approved by the G. and A. Duttweiler Foundation. Mitreva AG verifies that the salary bands are adhered to; the Chair of the Board of Directors is informed of the results in writing.
Migros’ remuneration model is clear and simple. Salaries are based consistently on rates of pay in the market, and the rationale of social capital is taken into account when fixing them. Workplace quality is a conscious component of responsible management. The benchmark working conditions, such as regulations for annual leave and employee training entitlements, are published on the Migros employment website.
The bonus-free remuneration and salary system is one of Migros’ core values and is integral to the company’s long-term development.
For the remuneration of the Migros organs, the Board of Directors issues FMC guidelines that are regularly reviewed and adjusted. These also apply to the external members of the boards of directors of FMC subsidiary companies. Internal members do not receive any form of remuneration for such mandates. The remuneration of the Board of Directors is approved by the G. and A. Duttweiler Foundation.
The bonus-free remuneration and salary system is one of Migros’ core values and is integral to the company’s long-term development. The members of the Board of Directors and Executive Board do not receive any bonuses or profit-sharing for their duties at Migros. They are not entitled to any contractually regulated severance pay.
Members of the FMC Board of Directors (including the Chairwoman) received a total of CHF 1’238’675 in fees in 2021 (2020: CHF 1’114’825), including all attendance fees for committee meetings and conferences. No other forms of remuneration are paid, in particular no expenses. The Chief Executive Officer and the managing directors of the regional Cooperatives did not receive any form of remuneration in their role as members of the FMC Board of Directors.
The detailed disclosure of the remuneration paid to members of the Board of Directors is shown below:
The seven members of the FMC Executive Board (including the CEO) received a total of CHF 5.513 million in 2021 (2020: CHF 5.572 million). The highest single salary paid (Fabrice Zumbrunnen, Chief Executive Officer) was CHF 920’000 (2020: CHF 909’000). Two thirds of pension fund contributions are paid by the employer and one third by the employee.
Members of the Executive Board are provided with a company car. An expenses allowance is included in the salaries above. The members of the Executive Board are not entitled to any contractually regulated severance pay, and no variable remuneration is paid. The seven members of the Executive Board do not receive any form of remuneration for business-related seats on management boards, supervisory boards or foundation boards. The remuneration for any approved mandates outside the Migros Group is paid to the employer.
|
|
Total remuneration 6 |
|
|
In CHF |
2021 |
2020 |
|
Ursula Nold Remuneration and Nominations Committee 1 2 |
420'000 |
420'000 |
|
Dominique Biedermann Audit Committee |
81'000 |
84'450 |
|
Jean-René Germanier Remuneration and Nominations Committee 7 |
66'500 |
79'600 |
|
Paola Ghillani Audit Committee, ADH (strategic issues) |
91'500 |
87'900 |
|
Marianne Janik, since 01.07.2020 Remuneration and Nominations Committee |
66'500 |
35'000 |
|
Martin Künzi, since 01.07.2020 Finance Committee |
87'825 |
41'300 |
|
Cornelia Ritz Bossicard, since 01.07.2020 Audit Committee 2 8 |
81'000 |
37'300 |
|
Christoph Tonini, since 01.07.2020 Finance Committee |
83'950 |
35'000 |
|
Hubert Weber, since 01.07.2020 Finance Committee, ADH (strategic issues) |
85'725 |
39'650 |
|
Hans A. Wüthrich Audit Committee 3 |
153'975 |
117'025 |
|
Patrick Avanthay 4 |
10'350 |
8'925 |
|
Séghira Egli, since 01.07.2020 4 |
10'350 |
2'875 |
|
Retired members |
|
|
|
Roger Baillod, until 30.06.2020 Remuneration and Nominations Committee |
|
31'650 |
|
Roelof Joosten, deceased 02.03.2020 Finance Committee |
|
11'650 |
|
Thomas Rudolph, until 30.06.2020 Finance Committee |
|
35'500 |
|
Ursula Schoepfer, until 30.06.2020 Finance Committee |
|
41'500 |
|
Andrea Hilber Truttmann, until 30.06.2020 |
|
5'500 |
|
Total |
1'238'675 |
1'114'825 |
1 The Chairwoman of the Board of Directors does not receive an attendance fee. The total remuneration includes expenses.
2 Minus contributions to the occupational pension scheme (employer and employee contributions).
3 The Deputy Chair receives a fixed fee of CHF 17'350 from 01.07.2020. The total compensation includes extraordinary expenses due to the role as Chair of the Audit Committee.
4 The employee representatives receive a fixed fee of CHF 1'150 per meeting/conference from 01.07.2020.
5 Committee meetings are paid as follows: Full-day meeting from 01.07.2020: CHF 2'900 Half-day meeting from 01.07.2020: CHF 1'750 Meeting before/after meetings of the Board of Directors from 01.07.2020: CHF 575 Allowance for the chair of the committee: fixed annual fee of CHF 12'600 from 01.07.2020
6 The total compensation for external members includes annual flat-rate compensation of CHF 63'000 and attendance fees (see footnote 5), plus accommodation and meals in own seminar centre during meetings of the Board of Directors. No expenses are reimbursed. Plus statutory contributions to social insurance.
7 Plus remuneration for the seat on the board of Seba Aproz SA, amounting to CHF 10'000 per year.
8 Plus remuneration for the seat on the board of Mitreva AG, amounting to CHF 16'500 per year.