Remuneration Report
The remuneration report explains the structure and amount of the remuneration paid to current and former members of the Executive Board and the Supervisory Board of Beiersdorf AG in the financial year 2024. It was prepared in accordance with the statutory provisions of § 162 Aktiengesetz (German Stock Corporation Act, AktG) as amended by the Gesetz zur Umsetzung der zweiten Aktionärsrechterichtlinie (German Act on the Implementation of the Second Shareholders’ Rights Directive, ARUG II) and also contains additional information on Executive Board and Supervisory Board remuneration for added clarity and transparency. The auditor has examined whether the remuneration report contains the information required in accordance with § 162 (1) and (2) AktG. The auditor’s report is included in this remuneration report.
On April 18, 2024, the Annual General Meeting approved the remuneration report for the financial year 2023, which was prepared and audited in accordance with § 162 AktG, with a majority of approximately 91% of the votes cast (previous year: 76%). This improved voting result is due, among other reasons, to the careful consideration given by the Executive Board and Supervisory Board following the 2023 Annual General Meeting to the comments made to the company by investors and other stakeholders with regard to the remuneration system and the remuneration report. Where it was deemed reasonable and appropriate, these were taken into account in the preparation of the 2023 Remuneration Report. In addition to this, suggestions and any criticism made by investors are considered on an ongoing basis, including in the preparation of this remuneration report.
Moreover, the Supervisory Board made the decision that the remuneration system would be refined with effect from the financial year 2025, and in particular, that the long-term variable remuneration would be newly set up and aligned with the “Win with Care” business strategy adopted in July 2024. The new remuneration system will be submitted to the Annual General Meeting on April 17, 2025 for approval; see the Annual General Meeting documents at www.beiersdorf.de/investor-relations/hauptversammlung/2025 for information.