Bonus if the privatization
succeeds. With the
threat of recession in Germany as a background and the new debate on managers’
remuneration (see our dispatch No. 080811), the announcement in mid-October
of a bonus program for board members if the privatization succeeds sparked off
major controversy in Germany. Developed on June 24 by the DB’s supervisory board,
this agreement planned that
the chairman of the board, Hartmut Medhorn, would receive between €140.000 and €1.4 million depending on the result of
the privatization of 24.9% of the capital of DB Mobility Logistics AG, the subsidiary
in charge of passenger and merchandise transport. This program also concerned
other board members, including Norbert Hansen, former leader of the main rail
union, Transnet, who became DB’s personnel manager in May (see
our dispatch No. 080811).
horn, would receive between €140.000 and €1.4 million depending on the result of
the privatization of 24.9% of the capital of DB Mobility Logistics AG, the subsidiary
in charge of passenger and merchandise transport. This program also concerned
other board members, including Norbert Hansen, former leader of the main rail
union, Transnet, who became DB’s personnel manager in May (see
our dispatch No. 080811).
An “outrageous” bonus in a context of wage
moderation. Reminding that the board
justifie
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