Remuneration – Executive Management
The members of the registered Executive Management participate in a short-term incentive programme that provides an annual bonus for the achievement of pre-determined targets. The CEO is entitled to receive a maximum of 14 months’ worth of fixed salary in bonus in case of exceptional performance, subject to the 2019 Annual General Meeting’s approval of amended remuneration guidelines for Lundbeck. The other members of the registered Executive Management may receive up to six months’ base salary as a bonus on condition of achievement of exceptional results.
|2018 DKKm||2017 DKKm|
|Short-term staff benefits||81||78|
|Other social security costs||1||-|
|Equity- and cash-settled incentive programmes||10||9|
1) Executives are persons who report directly to the registered Executive Management.
Deborah Dunsire President & CEO1,2
Anders Gersel Pedersen
|Equity- and cash-settled
1) Deborah Dunsire joined H. Lundbeck A/S in September 2018.
2) It has been agreed that Lundbeck may pay a compensation as a result of differences between US and Danish private investment income taxation. The salary for 2018 did not include any compensation for tax on private investment income.
3) Anders Götzsche was interim CEO until the end of August 2018.
Remuneration – Board of Directors
The total remuneration of the Board of Directors for 2018 amounted to DKK 6.0 million (DKK 5.3 million in 2017). The amount includes fees for participation in the Audit Committee of DKK 0.7 million (DKK 0.7 million in 2017), the Remuneration Committee of DKK 0.5 million (DKK 0.6 million in 2017) and the Scientific Committee of DKK 0.7 million (DKK 0.4 million in 2017). The remuneration for 2018 is consistent with the remuneration presented at the Annual General Meeting held on 20 March 2018.
The members of the Board of Directors held a total of 43,813 Lundbeck shares at 31 December 2018 (44,328 shares in 2017).
The total remuneration of the chairman of the Board of Directors amounted to DKK 1.6 million (DKK 1.5 million in 2017). The total remuneration of the deputy chairman of the Board of Directors amounted to DKK 1.1 million (DKK 1.0 million in 2017). These amounts include fees for participation in Board committees.