Annual Report 2019

Short-term variable remuneration

CEO Borchert has been awarded a bonus of €587,520, representing 72% of his 2019 base salary. The bonus targets over 2019 can be divided in two groups: 1) financial and 2) strategic and personal targets, each having a 50% weight in the bonus outcome.

The financial targets related to the achievement of a certain target for the total net revenue and the adjusted EBITA. The strategic / personal targets included amongst others:

  • achieving the budgeted e-commerce target;
  • delivering the digital roadmap on time and on budget;
  • delivering turnaround plan for the Americas & Asia segment; and
  • implementing the new GrandVision organization

CFO Eelman has been awarded a bonus of €216,667 representing 65% of his base salary. Eelman started in May 2019 and therefore received a guaranteed pro rata bonus at target.