In accordance with the Danish Companies Act and the Danish Corporate Governance Recommendation Lundbeck has prepared a Remuneration Policy. The policy was approved with sufficient majority at Lundbeck’s Annual General Meeting on 24 March 2020. Further, Lundbeck has in accordance with the Danish Corporate Governance Recommendations prepared a Remuneration Report. Both the Remuneration Policy and the Remuneration Report can be downloaded below.
Each of the registered Executive Management members participates in a short-term incentive program that provides an annual cash bonus based on the achievement of predetermined targets for the preceding financial year. The short-term incentive payment levels will be determined by the Board of Directors from year to year. The CEO has a target of up to 100% and a maximum of up to 117% of the fixed annual base salary. The other registered Executive Management members have a target of up to 33.33% and a maximum of up to 50% of the fixed annual base salary. All registered Executive Management members may receive payment below target and potentially no payment in case of performance below target.
|2022 DKKm||2021 DKKm
|Short-term staff benefits||129||180
|Other social security costs||1||1|
|Equity- and cash-settled incentive programmes||21||23|
|2022 DKKm||Deborah Dunsire¹
President & CEO
EVP & CFO
Executive Vice President, CFO
Executive Vice President, Commercial Operations
Executive Vice President, Product Development & Supply
|Per Johan Luthman, Executive Vice President, R&D
|Total after tax indemnification||31.2||4.9||2.1||10.6||9.9||11.0||69.7|
The total remuneration of the Board of Directors for 2022 amounted to DKK 9.0 million (DKK 8.5 million in 2021). The amount includes fees for participation in the Audit Committee of DKK 0.7 million (DKK 0.7 million in 2021), the Remuneration Committee of DKK 0.7 million (DKK 0.7 million in 2021), the Scientific Committee of DKK 0.9 million (DKK 0.9 million in 2021) and travel allowances of DKK 1.2 million (DKK 1.1 million in 2021) for board members with permanent residence outside of Europe. The remuneration for 2022 is consistent with the remuneration presented at the Annual General Meeting held on 23 March 2022.
The members of the Board of Directors held a total of 238,380 Lundbeck shares at 31 December 2022 (219,040 shares at 31 December 2021).
The total remuneration of the chair of the Board of Directors amounted to DKK 1.7 million (DKK 1.7 million in 2021). The total remuneration of the deputy chair of the Board of Directors amounted to DKK 1.2 million (DKK 1.2 million in 2021). These amounts include fees for participation in Board committees.
Lundbeck’s download center for key annual reports and investor presentations.
Who owns Lundbeck and information on the dividends thereof.
The Executive Management team consists of 8 members led by Deborah Dunsire, CEO.