The Supervisory Board’s compensation is determined by resolution of the Annual General Meeting.
As determined by the Annual General Meeting’s resolution of May 31, 2023:
Remuneration of the Supervisory Board for the financial year 2023:
- EUR 60,000 for the Chairman
- EUR 37,500 for the Deputy Chairman
- EUR 30,000 for the other members
- EUR 30,000 for the Chairman of a Committee
- EUR 18,750 for the Deputy Chairman of a Committee
- EUR 15,000 for the other members of a Committee
- EUR 600/Supervisory Board Meeting - attendance fee
The Supervisory Board does not participate in stock option plans.
OMV insures directors and officers of OMV and its fully consolidated subsidiaries in that capacity as to compensation amounts due to personal civil legal liability as well as defense costs in such civil legal proceedings taken against them. The insurance does not provide cover for deliberately, fraudulently or dishonestly committed wrongful acts of these directors.
In 2004, the AGM consented to contract D&O insurance for the members of the Supervisory Board of OMV Aktiengesellschaft and amended the Articles of Association in order to authorize the Executive Board to take out such insurance. The conclusion of a D&O insurance for the members of the Executive Board of OMV Aktiengesellschaft has to be approved by the Supervisory Board.
The remuneration report provides an overview of the remuneration package for the Supervisory Board members. The remuneration of the Supervisory Board is based on the Remuneration Policy for the Supervisory Board and Section 16 of the Articles of Association of OMV Aktiengesellschaft.
Remuneration Policy for the Supervisory Board
The Supervisory Board shall draw up the principles for the remuneration of the members of the Executive Board and the Supervisory Board in accordance with Section 78a in conjunction with Section 98a Stock Corporation Act (Remuneration Policy). The Remuneration Policy shall be submitted to the General Meeting for approval at least every fourth fiscal year and in the event of any material change. The vote at the General Meeting has a recommendatory character and the resolution cannot be challenged (Section 78b (1) Stock Corporation Act).
The Remuneration Policy and the Remuneration Report for the Executive Board is published here.