The Board of Directors has adopted a remuneration policy applicable to the Board of Directors and the Executive Management Board in Bang & Olufsen a/s.
The Remuneration Policy is based on the Recommendations for Corporate Governance issued by the Danish Committee on Corporate Governance and implemented by NASDAQ Copenhagen A/S.
General Guidelines for Incentive Schemes in Bang & Olufsen a/s
The Board of Directors receives a fixed cash remuneration which is approved annually by the Annual General Meeting. The Board of Directors does not receive incentive-based remuneration.
It is the view of the Board of Directors that a combination of fixed and performance-based remuneration for the Executive Management Board contributes to the company’s ability to attract and retain competent key employees while, at the same time, the Executive Management Board has an incentive to create added value for the benefit of the company's shareholders through partial incentive-based remuneration.