The remuneration report is prepared jointly by the Management Board and the Supervisory Board of METRO AG. It explains the individually granted and owed remuneration for the current and former members of the Management Board and the Supervisory Board in financial year 2021/22 in accordance with the requirements of § 162 of the German Stock Corporation Act (AktG).
The remuneration system for the members of the Management Board applicable for financial year 2021/22 was adjusted after enforcement of the Act on Implementing the Second Shareholders’ Rights Directive (ARUG II). It was submitted to the Annual General Meeting of METRO AG on 19 February 2021 for approval. The remuneration system was approved with over 90% of the votes cast. It has already been implemented in the current employment contracts of the members of the Management Board since 1 October 2020.
Furthermore, the amendment to the remuneration system of the Supervisory Board, which is regulated in § 13 of the company’s Articles of Association, was also approved at the Annual General Meeting of METRO AG on 19 February 2021 with over 99% of the votes cast. This regulation applies with effect from 1 October 2021.
The remuneration report for financial year 2021/22 was audited by the auditor, KPMG AG Wirtschaftsprüfungsgesellschaft, in accordance with § 162 Section 3 of the German Stock Corporation Act (AktG) based on formal criteria as well as substantive, material criteria.