The highly motivated and qualified team of employees from 176 different nations is thus as well prepared as possible for the future’s challenges.Working at the Lufthansa Group has many facets. This website uses cookies. A low turnout at a shareholders meeting last month has made Lufthansa jittery fearing that Thiele might get his way.The need to push the bailout through is possibly the only thing that Lufthansa and its unions can currently agree on. Cabin crew recruitment can be tough, ultra-competitive and just a little bit confusing - Mateusz has been there and done that. the recommendation rate of customers, is used for the "Customer" parameter. The Net Promotor Score, i.e. Lufthansa Shareholder Thiele Raps Bailout Deal, Raises Stake By Reuters , Wire Service Content June 16, 2020 By Reuters , Wire Service Content June 16, 2020, at 2:59 p.m. The airline has urged as many shareholders as possible to attend the event (virtually) in order to cast their vote, fearing that the package might fall at the last hurdle.Billionaire shareholder Heinz-Hermann Thiele, who has acquired a roughly 15 per cent stake in the airline, is unimpressed with the government bailout and has suggested he might attempt to vote down the package. It means that we are committed to creating added value for our customers, employees and investors and to meeting our responsibilities toward the environment and society. Overview. It means that we are committed to creating added value for our customers, employees and investors and to meeting our responsibilities toward the environment and society. This website uses cookies. The shareholder vote next Thursday is likely to require a 2/3rd majority to pass.
The performance period to which the performance targets relate is four years. Those have two functions: On the one hand they are providing basic functionality for this website. This is despite the fact that the entire airline is only valued at €4.7 billion today. In addition, as with the annual bonus, sustainability parameters are also applied in the multi-year variable remuneration with a weighting of 15%. Due to the limited booking status, this is a minor ancillary service, which is not limited in amount. Assumption: individual performance factor 1.0.1) Schematic diagram – percentage of the target values of basic remuneration, variable remuneration and company pension scheme. Sustainability parameters which were previously only applied in the multi-year variable remuneration (in the so-called "deferral"), are now taken into account in both the one-year and the multi-year variable remuneration. These cookies are needed for a smooth operation of our website. Agreement on staff cuts, however, remains less certain. On the other hand they allow us to improve our content for you. With the new remuneration system, the Supervisory Board is introducing a modern target bonus model for the Executive Board that replaces the previous pure margin participation.
The payment of the multi-year variable remuneration is limited to a maximum of 200% of the target value (EUR 4,180,000 or EUR 2,200,000 gross) (cap).The Supervisory Board annually determines the target, threshold and maximum values of the financial targets and the sustainability parameters for the variable remuneration Under the newly introduced Share Ownership Guidelines, the members of the Executive Board are obliged to invest 15% of the gross payment of the annual variable remuneration actually achieved (annual bonus and multi-year variable remuneration) in Lufthansa shares until they hold shares in the amount of 100% of the basic annual remuneration (for an ordinary member of the Executive Board) or 200% (for the Chairman of the Executive Board).
Existing shareholdings are taken into account. In future, the compensation system will focus more strongly on the sustainable development of the company and significantly reduce complexity. Those have two functions: On the one hand they are providing basic functionality for this website. The new remuneration system supports profitable earnings growth and rewards sustained positive development of the company value. The distance between the base remuneration of the Chairman of the Executive Board and the base remuneration of an ordinary member of the Executive Board will be increased to a customary market ratio.The variable remuneration was fundamentally redesigned. The EBIT margin is a key performance indicator used by the Group to measure the profitability of its business. The pension credit will continue to be paid out in ten instalments. The UFO cabin crew union, who are normally at permanent loggerheads with Lufthansa, has even been given permission by the airline to hold a demonstration outside the Lufthansa Aviation Center on Thursday.Union members will be encouraged to wear their uniforms as they try to convince shareholders to vote for the bailout package. The new system takes much better into account the requirements of the various interest groups, in particular the shareholders and their representatives. The target value bonus of the multi-year variable remuneration amounts to EUR 2,090,000 for the Chairman of the Executive Board and EUR 1,100,000 for an ordinary member of the Executive Board in case of 100 % target achievement.
When embedding Share prices and charts, further cookies will be set. Without company pension scheme and other benefits. Last week, Lufthansa executive board member Dr Michael Niggemann revealed plans to slash as many as 22,000 jobs in a major cost-cutting move to survive the COVID-19 pandemic.