Econocom - 2020 annual report

06 consolidated financial statements

notes to the consolidated financial statements

Related-party information 22. This note presents material transactions between the Group and its related parties. Management compensation 22.1.

The Group’s key management personnel are the Chairman, the Vice-Chairman, the managing Directors and the members of the Executive Committee. The compensation conditions for the Chairman, the Vice-Chairman and the

Directors following a recommendation of the Compensation and Appointments Committee. The Board has given its Chairman a mandate to determine the compensation of the other senior managers of the Group upon the recommendationsof the Appointments and Compensation

persons

delegated

to

day-to-day

Committee.

management are set by the Board of

2020

2019

in € millions

(3.7)

(4.8)

Short-term benefits (including social costs)

- -

- -

Retirement benefits and other post-employment benefits

Other long-term benefits

(0.7) (0.8)

(2.2) (0.2)

Termination benefits

Share-based payments

-

-

Attendance fees (1)

Total (7.2) The table only shows compensation paid to key management personnel and excludes attendance fees paid (1) to non-executive Directors. (5.2)

The table above shows the amounts expensed for the members of the Executive Committee and the managing Directors. This table does not show fees billed to Econocom group entities by management, which are disclosed in note22.2 below.

The compensation policy for Directors and members of the Executive Committee is set out in further detail in the Board of Directors’ Management Report in section 5.7.1.

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2020 annual report