34. Related Party Disclosures – Individuals
The requirements of IAS 24 apply to key management personnel of the company, their immediate family members, as well as the companies they control. In the Beiersdorf Group, the key management personnel are the members of the Executive and Supervisory Boards of Beiersdorf Aktiengesellschaft.
For fiscal year 2022, the members of the Supervisory Board received remuneration totaling €1,673 thousand (previous year €1,702 thousand) and the members of the Executive Board received remuneration totaling €27,412 thousand (previous year: €16,131 thousand; adjusted), in each case in accordance with the provisions of German commercial law. Of the total compensation of the members of the Executive Board, €15,406 thousand (prior year: €7,517 thousand) relates to long-term benefits (additions to accruals for the LTP equity investments and for the new LTP 2021–2024) and also any multi-year bonuses). The short-term benefits (Fixed Basic Remuneration and Variable Bonus) including ancillary benefits amounted to €12,006 thousand (previous year: €8,614 thousand). For information on the principles of the system governing Executive and Supervisory Board remuneration and the amount of members’ individual remuneration, please refer to the remuneration report in the section “Other Information” in the Annual Report. This remuneration report is not part of the combined Management Report. Payments to former members of the Executive Board and their surviving dependents €5,128 thousand (previous year: €4,775 thousand). Provisions for pension commitments to former members of the Executive Board and their surviving dependents €54,674 thousand (previous year: €59,369 thousand).
With the exception of granting of the remuneration disclosed in the remuneration report, there were no material transactions between the members of Beiersdorf Aktiengesellschaft’s Executive Board or Supervisory Board and the companies of the Beiersdorf Group in fiscal year 2022. The same applies to the immediate family members of these persons.