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Please find below all Forbo media releases listed by year.
Purely performance-related, long-term compensation model for Forbo’s Delegate of the Board of Directors has been extended
The Board of Directors of Forbo Holding Ltd and This E. Schneider, Delegate of the Board of Directors, have extended the employment agreement into the year 2016. The core elements are again based on a full assumption of business and entrepreneurial risks.
Baar, January 3, 2011
Instead of salary and bonus payments for the employment period between May 1, 2013 and April 30, 2016, the Delegate of the Board of Directors, This E. Schneider, will receive a cash payment that will be used to settle his employee contributions to insurances in addition to the current insurance benefits paid by the employer; in compensation for all other cash payments and other remunerations (including bonuses, options, etc.), he will receive Forbo Holding shares on an annual basis. These will be transferred at their value at the date of the allocation and will have a vesting period of three years. The allocation for the year 2013 will be made on a pro rata temporis base, for the first time in spring 2013.
This compensation model is again geared to the company’s long-term, sustainable development and is therefore very much in the interests of Forbo and its shareholders.
“After Forbo’s success in recent years under the management of its Delegate, the Board of Directors is very pleased that This E. Schneider has accepted our proposal for a share-based remuneration and that he has extended his employment contract ahead of time. With this remuneration model, This E. Schneider emphasizes once more that he is prepared to take on a full share of the business risk, reflecting his ongoing commitment to steering the company through a challenging economic period in the interest of its shareholders," said the Chairman of the Board of Directors Dr. Albert Gnaegi, explaining the compensation model defined by the Board of Directors.
Forbo is a leading producer of flooring systems, adhesives, as well as power transmission and conveyor belt solutions. The company employs some 6,000 people and has an international network of 44 sites with production and distribution as well as 47 pure sales organizations in a total of 35 countries worldwide. Forbo is headquartered in Baar in the canton of Zug, Switzerland.
Forbo Holding Ltd is listed on the SIX Swiss Exchange (security number 354151, ISIN CH0003541510, Bloomberg FORN SW, Reuters FORN.s).
Contact persons:
Dr. Albert Gnaegi
Chairman of the Board of Directors
This E. Schneider
Delegate of the Board of Directors and CEO
Phone +41 58 787 25 49
Fax +41 58 787 20 49
www.forbo.com
