Migros has a clearly defined remuneration policy. The remuneration of the management is based on salary bands in line with the market. The Board of Directors of the Federation of Migros Cooperatives issues guidelines for the remuneration of the other corporate bodies.
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 approved by the G. and A. Duttweiler Foundation. Mitreva AG verifies that the salary bands are adhered to; the Chairwoman of the Board of Directors is informed of the results in writing.
Migros’ remuneration model is clear and simple. Salaries are based on market rates and reflect Migros’ values and culture. Workplace quality is a conscious component of responsible management, along with fair working conditions that include generous holiday entitlement and good training and development opportunities.
The bonus-free remuneration 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 generally receive any remuneration for such mandates. The remuneration of the Board of Directors is also approved by the G. and A. Duttweiler Foundation.
The bonus-free remuneration 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.
The members of the FMC Board of Directors (including the Chairwoman) were paid a total of CHF 1’132’215 in 2024 (2023: CHF 1’269’450), 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:
|
|
Total remuneration |
|
|
In CHF |
2024 |
2023 |
|
Total |
1’090’715 |
1’269’450 |
|
Ursula Nold 1 2 Chairwoman since 2019, elected until 2026 Remuneration and Nominations Committee |
441’000 |
441’000 |
|
Martin Künzi 2 Since 2020, elected until 2026 Finance Committee, Audit Committee |
106’550 |
116’750 |
|
Cédric Moret Since 07.2024, elected until 2026 Remuneration and Nominations Committee, Governance Committee |
41’200 |
|
|
Cornelia Ritz Bossicard 2 3 Since 2020, elected until 2026 Audit Committee, Governance Committee |
82’650 |
75’350 |
|
Christoph Tonini Since 2020, elected until 2026 Finance Committee, Remuneration and Nominations Committee |
97’100 |
78’425 |
|
Hubert Weber 2 4 Since 2020, elected until 2026 Audit Committee |
93’400 |
117’875 |
|
Anne-France Bonny Since 07.2024, elected until 2026 |
9’550 |
|
|
Colin Frei Since 06.2023, elected until 2026 |
12’950 |
8’050 |
|
|
|
|
|
|
|
|
|
Dominique Biedermann Since 2012, elected until 06.2024 Audit Committee |
37’300 |
76’350 |
|
Jean-René Germanier Since 2008, elected until 06.2024 Remuneration and Nominations Committee |
36’790 |
71’050 |
|
Paola Ghillani Since 2008, elected until 06.2024 Audit Committee |
37’300 |
86’250 |
|
Marianne Janik Since 2020, elected until 06.2024 Remuneration and Nominations Committee |
33’250 |
73’150 |
|
Hans A. Wüthrich Since 2012, elected until 06.2024 Audit Committee |
54’775 |
106’800 |
|
Patrick Avanthay Since 2009, elected until 06.2024 |
6’900 |
13’225 |
|
Séghira Egli Since 2020, elected until 05.2023 |
|
5’175 |
1 The Chairwoman of the Board of Directors does not receive an attendance fee.
2 Minus contributions to the occupational pension scheme (employer and employee contributions).
3 Plus compensation for the seat on the board of Mitreva AG, which amounts to CHF 16'500 for 2024.
4 Plus compensation for the seat on the board of MSM AG, which amounts to CHF 22'000 for 2024.
The seven (2023: eight) members of the FMC Executive Board (including the CEO)1 received a total of CHF 5.08 million in 2024 (2023: CHF 5.79 million). The highest single salary paid (Mario Irminger, Chief Executive Officer) was CHF 874’000 (2023: 855’000). The ratio of the highest individual salary to the average gross annual salary of all Migros Group employees was 1:13 in the reporting year and has not changed since the previous year (2023: 1:13).
Two thirds of pension fund contributions are paid by the employer and one third by the employees.
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.
1 Executive Board reduced by one position in July 2024 due to the incorporation of Migros Supermarket Ltd