Management Board

The Management Board of the Basler AG consists of four members:

Dr. Dietmar Ley (CFO)
Arndt Bake (CMO)
John Jennings (CMO)
Hardy Mehl (CFO / COO)

Composition and Compensation

The Management Board of Basler is comprised of several persons and have a Chairman or Spokesman. By-Laws is govern the work of the Management Board, in particular the allocation of duties among individual Management Board members, matters reserved for the Management Board as a whole and the required majority for Management Board resolutions. The Supervisory Board debates on the Management Board’s compensation system and revises it on a regular basis. Compensation of the members of the Management Board is determined by the Supervisory Board at an appropriate amount based on a performance assessment in considering any payments by group companies. Criteria for determining the appropriateness of compensation are, in particular, the tasks of the member of the Management Board, his performance, the economic situation, the performance and outlook of the enterprise taking into account its peer companies.

The compensation of the members of the Management Board is comprised of a fixed salary and variable components. Variable compensation includes one-time and annually-payable components linked to the business performance as well as longterm incentives. Changing perfomance targets retroactively are excluded.

The compensation of the Management Board is published in the Notes of the actual Annual Report.