The remuneration of the Executive Board in accordance with the Act Implementing the Second Shareholders’ Rights Directive entails several changes. The members of the Corporate/M&A and Employment Practice Groups of law firm Heuking Kühn Lüer Wojtek focus on the most important adjustments in an entertaining explanatory video.
Based on the questions raised by Mr. Frey, the fictitious Chairman of the Supervisory Board, in relation to the law that entered into force at the beginning of the year, the video leads through the various changes: for the 2021 Annual General Meeting, the Supervisory Board will have to resolve a remuneration system that includes a remuneration cap. The Supervisory Board has to submit the remuneration system to the Annual General Meeting for a resolution. From next year on, the Executive Board and the Supervisory Board will also have to disclose their members’ remuneration in annual remuneration reports.
The members of the Corporate/M&A Practice Group of law firm Heuking Kühn Lüer Wojtek have been advising medium-sized and large companies in corporate law for many years. The Practice Group’s advice ranges from corporate housekeeping to legal and tax advice in complex transactions in Germany and abroad. The Employment Law Practice Group consists of a team of more than 40 lawyers and certified specialists in employment law who advise national and international companies in all areas of employment law. Both Practice Groups have previously published explanatory videos on other topics, including on the term sheet in venture capital financing or on the use of external staff.
Watch our new explanatory video here.