ANNUAL REPORT 2011 - DONG Energy

emuneration of Board of Directors, Executive Board and other senior executives in 2011
DKK ‘000 Salaries Bonus Pension total
parent company Board of Directors:
Chairman (500) - - (500)
Deputy Chairman (300) - - (300)
Other members1 (1,838) - - (1,838)
audit and risk Committee:
Chairman (100) - - (100)
Other members2 (138) - - (138)
remuneration Committee:
Chairman (50) - - (50)
Other member (44) - - (44)
Executive Board and other senior
executives in the Group:
CEO (5,006) (1,084) (2) (6,092)
CFO (4,565) (1,141) (2) (5,708)
Other senior executives in the Group (12,956) (3,014) (1,931) (17,901)
remuneration (25,497) (5,239) (1,935) (32,671)
1 Annual remuneration was DKK 175 thousand per member in 2011.
2 Annual remuneration was DKK 50 thousand per member in 2011.
At 31 December 2011, the Executive Board and other senior executives
consisted of six persons in total (2010: six persons).
DONG Energy has prepared a remuneration policy for the
remuneration of the Board of Directors and for the Executive
Board registered with the Danish Business Authority, and
overall guidelines for incentive pay for these offi cers were
adopted at DONG Energy’s Annual General Meeting in January
2008. Both the remuneration policy and the overall guidelines
for incentive pay can be viewed on DONG Energy’s website.
Remuneration of the Board of Directors and of the Executive
Board registered with the Danish Business Authority complied
with the remuneration policy and the overall guidelines for
incentive pay in 2011.
The service contract of the CEO includes a termination package
under which he will be entitled to salary equivalent to
33½ months’ salary, including pension, if his service contract
is terminated by the company (2010: 33½ months) consisting
of salary during the notice period (12 months) and termination
benefi t (21½ months).
The CFO and the Group’s other senior executives will be entitled
to 24 months’ salary, including pension, if their contracts
of service are terminated by the company (2010: 24 months)
consisting of salary during the notice period (12 months) and
termination benefi t (12 months).
Further details of the Group Executive Management are provided
in the Corporate governance sections on pages 52-53
and the section on the Board of Directors and the Group Executive
Management on pages 56-60 of Management’s review.
DONG ENERGY DONG ENERGY GROUP ANNUAL REPORT 2011 – COnsOliDatED finanCial statEmEnts
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notes