Compensation
We have rigorous governance, policies and processes to ensure that our compensation practices are aligned with our principles of integrity, fairness and transparency.
Givaudan owes its success to a diverse pool of highly engaged and talented people. The Company’s compensation policies are an essential component of its employee value proposition and a key driver of both individual and business performance. Compensation programmes reflect the performance of the business and of individuals and are aligned with the ambition of ensuring that Givaudan is a place where everyone feels welcome, valued and inspired.
Our performance target setting for executives is aligned with the Givaudan strategy. It includes both financial metrics and non-financial (ESG) criteria.
Compensation of the Board of Directors and the Executive Committee
The compensation paid to the Board members for the period between the 2023 and 2024 Annual General Meetings, CHF 2,845,053, is again within the amount approved by shareholders at the 2023 Annual General Meeting CHF 3,000,000.
Amounts approved at the 2024 Annual General Meeting, CHF 3,000,000, will be paid by the end of the year in office and validated in the 2025 Compensation Report. Such approved and paid amounts may differ from those shown in the Board compensation summary table which, according to the Swiss Obligations Law, must include compensation paid in the reporting year.
For the EC compensation, a new member joined the Executive Committee in 2024. Consequently, additional compensation above the shareholder approved amount has been paid in accordance with the Givaudan Articles of Incorporation (Art. 27), which provides that certain supplementary amounts may be paid for newly appointed Executive Committee members within certain thresholds. The total supplementary amount used for the relevant period amounts to CHF 167,211.
The fixed and long term variable compensation approved for 2024 was CHF 15,600,000 (2023: CHF 15,400,000). The annual incentive, short term variable compensation amount for 2024 was CHF 7,036,528 and will be submitted for approval at the 2025 Annual General Meeting (2023: CHF 4,361,584).