Key management
Gordon Riske, Chief Executive Officer (CEO), is responsible, among other things, for the strategic management of the Group, communications, governance and compliance, and the Group's Asian business.
Harald Pinger, Chief Financial Officer (CFO), is responsible, among other things, for finance including financial services, IT activities, human resources, legal affairs, internal audit, business development/M&A, and the Americas region. On 1 January 2010, he took over the position of Labour Relations Director from Gordon Riske.
Otmar Hauck (member of the key management team of KION GROUP GmbH, Wiesbaden), Chief Operating Officer (COO), is responsible for quality and central operations (operational excellence/production control), purchasing, logistics, health & safety and environmental issues in the Group.
The remuneration paid to the Group's key management team comprises a fixed salary and non-cash benefits, pension entitlements and performance-related components. The variable performance-related components are paid each year on the basis of the Group's performance. The pension entitlements consist of retirement, invalidity and surviving dependants' benefits.
The total remuneration for members of the key management team in 2010 amounted to €5,049 thousand (2009: €3,428 thousand). This consisted of short-term benefits in the amount of €4,550 thousand (2009: €3,100 thousand), post-employment benefits totalling €366 thousand (2009: €328 thousand) and share-based payments amounting to €133 thousand (2009: €0). The current service cost resulting from pension provisions for the key management team is reported under provisions for pensions and similar obligations. In the year under review, loans or advances of €151 thousand had been made to members of the key management team. The interest rate payable on the short-term loan is 5 per cent.
Provisions for pension obligations to former members of the key management team and their surviving dependants amounting to €2,953 thousand (2009: €2,639 thousand) were recognised in accordance with IAS 19.
Supervisory Board
The total remuneration paid to the members of the Supervisory Board for the performance of their tasks at the parent company and subsidiaries in 2010 amounted to €822 thousand (2008: €638 thousand) including VAT. There were no loans or advances to members of the Supervisory Board in 2010. Furthermore, the members of the Supervisory Board did not receive any remuneration or benefits for services provided as individuals, such as consulting or brokerage activities.
