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48 being focused: being better 1.04 0.9 02 01 Personnel development expenses in million euros Stock Option Scheme Following its introduction in 2001, a stock option scheme was open again to selected senior management in 2002 as part of the stock appreciation rights scheme set up with the Group’s Long-Term Incentive Plan in 2000. As in 2002 and 2001, the scheme requires a not inconsiderable personal investment in Pfleiderer shares as a starting commitment. The exercise price in the premium price option model is at least 110 percent of the base price. Despite the difficult economic situation, the level of participation is pleasingly high and is a demonstration of senior management’s confidence in the Group. As announced in 2001, the variable compensation system that was initially introduced for senior management, has now been extended to all employees outside the collective bargaining process. The Pfleiderer Balanced Scorecard has created a foundation for these employees to be paid according to personal performance and contribution to the value increase of their business centers. Annual performance assessments held between employees and their superiors also serve to intensify dialogue and are an integral part of Pfleiderer AG’s management guidelines. Personnel Development on the Business Campus The Pfleiderer Business Campus bundles all management development activities and courses in the Pfleiderer Group. Apart from training courses for new employees and trainees, advanced training courses are on offer. The Campus is a place of learning and development within the organization. As such, it appeals to all employees within the Group and acts as a motor for corporate innovation and cultural change. Personnel development activities in 2002 took up a budget of around one million euros (2001: 0.9 million euros). Management Guidelines Pfleiderer’s Management Guidelines are a focal point in the personnel development process. The Guidelines set out and bring together ideals in terms of personal attributes and competencies expected from corporate management. As such, the Guidelines are an essential part of Pfleiderer’s management concept, expressing the Company’s desire to achieve a leadership culture. The Management Guidelines are directly beneficial to Pfleiderer AG and its senior management, as they harness and direct leadership potential within the Company. As well as representing a benchmark for the successful development of managers, the Guidelines act as a selection instrument when filling senior positions and as orientation to all senior managers. Finally, the Guidelines are an important instrument in developing a leadership culture within the Company.
PEPP Potential Recognition management report personnel report pfleiderer ag 49 management guidelines Junior Consultants Employee Assessment Qualification Schemes Job Allocation Assessment Selection Competencies Leadership college Internal Performance Guideline Short listing Motivation Promotion stage benchmarking General Ability Promotion stage management External Personality Passony guidelines Self-management Open training Guideline Counseling schemes benchmarking Coaching book Potential assessment Management devel- Short listing PE Database opment program Promotion stage Short listing Counseling Coaching book Senior management 1. Internal Junior Consulting In 2002, 14 participants for the Pfleiderer Junior Consultant Program were selected on the basis of the Management Guidelines. These participants will pass through various training and development stages using the Guidelines to benchmark their progress. 2. Employee Assessment Commencing at the end of 2001 and the start of 2002, the abilities of managers at Job Level 1 and 2 were assessed in dialogue with their superiors. The objective was to determine how far managers’ abilities corresponded to the Management Guidelines. The results provided a basis for self-management for those assessed, as well as for counseling and development measures where required. 3. Potential Recognition Scheme at Pfleiderer The abilities and personalities of selected managers at Job Level 3 were assessed within the framework of the Management Guidelines as part of the Personnel Potential Recognition Scheme (PEPP). The starting point is the HR principle of promoting internally before drawing on outside sources. The aim of the scheme is to identify and win over managers with the potential for higher responsibility and duties within the Company.
Page 1 and 2: january february march april being
Page 3 and 4: Group figures Jan. 1 - Jan. 1 - Dec
Page 5 and 6: usa Poles & Towers Barstow, Califor
Page 7 and 8: we are working for change to ensure
Page 9 and 10: y looking for a strategic partner w
Page 11 and 12: eport of the supervisory board pfle
Page 13 and 14: eport of the supervisory board pfle
Page 15 and 16: 1. Introduction 2. Shareholders and
Page 17 and 18: 5. Communication and Information co
Page 19 and 20: management report market report pfl
Page 21 and 22: management report market report/com
Page 23 and 24: management report company report pf
Page 25 and 26: Equity ratio in % 22.7 20.8 02 01 m
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Page 29 and 30: Arnsberg Bad Tölz Gütersloh Neuma
Page 31 and 32: 17 % 19 % 35% 29% ■ Industry ■
Page 33 and 34: 16 % 20% 11 % 3% ■ DBS ■ Chipbo
Page 35 and 36: Barstow, California Bartow, Florida
Page 37 and 38: Coswig Dinkelsbühl Gernsbach Lange
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Page 45 and 46: management report research and deve
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Page 65 and 66: management report investor relation
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Page 71 and 72: pfleiderer ag 67 Consolidated Finan
Page 73 and 74: consolidated financial statements b
Page 75 and 76: Pfleiderer Consolidated Statements
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Page 93 and 94: 4. Inventories 5. Property, plant a
Page 95 and 96: 7. Financial assets 8. Other long-l
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Page 99 and 100: 15. Deferred income 16. Discontinue
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18. Stock appreciation rights and s
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19. Derivative financial instrument
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consolidated financial statements n
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consolidated financial statements n
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21. Pensions and similar obligation
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V. Notes to Statement of Income 1.
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2. Other financial obligations 3. L
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IX. Earnings per Ordinary Share con
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3. Long-term investments and securi
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11. Revenues XIII. Changes in Asset
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consolidated financial statements a
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consolidated financial statements b
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consolidated financial statements c
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consolidated financial statements g
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Pfleiderer AG Statement of Income 2
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financial statements of the legal e
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III. Principles of Accounting and V
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(2) Current assets (3) Stockholders
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(4) Accruals financial statements o
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V. Notes to Statement of Income fin
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Audit Opinion financial statements
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economic glossary ■ capital emplo
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■ p Particleboard 15f, 25ff, 9ff
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in brief multi-year summary pfleide
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financial calendar contacts imprint
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