Do you want to switch the language?

Corporate governance at Kapsch

Corporate governance plays a key role at Kapsch TrafficCom. The cooperation between the management and Supervisory Board is transparent and essential in order to safeguard shareholder interests.

Executive Board

The Executive Board shall manage the company under its own responsibility in such a manner as the good of the company requires, taking into account the interests of the shareholders and the employees as well as the public interest. Members of the Executive Board are appointed by the Supervisory Board.

Currently, the Executive Board consists of three members:

Name and functionResponsible forYear of birthYear first 
appointed
Year of expiry
of the current 
term
Georg Kapsch,
Chairman / CEO
Finance, Corporate Development, New Ventures, Legal, Human Resources, Marketing & PR, International Subsidiaries & Management Systems, IT, Sales Region North America and the Solution Center Intelligent Mobility Services195920022025
André Laux,
Member / COO
Sales Regions: Europe, Middle East, Africa, South and Central America, and Asia-Pacific as well as Supply Chain Management, Production & Logistics196220102024
Alfredo Escribá Gallego,
Member / CTO
Corporate Technology and the Solution Centers: Tolling, Back Office, Traffic196920192024

Please note: The members of the Executive Board currently do not hold any shares or share options in Kapsch TrafficCom AG.

Go to the remuneration policy for the members of the Executive.

Supervisory Board

Overview of the Supervisory Board of Kapsch TrafficCom:

NamePositionYear of birthYear first appointedYear current term expires
Franz SemmerneggChairman196820022023
Harald SommererDeputy chairman196720132023
Sabine KauperMember196820112022
Kari KapschMember196420022023
Christian WindischMember 119632002n/a
Claudia Rudolf-MischMember 119672018n/a

1)  Delegated by the works council, which may recall a member it has delegated at any time.

Dr. Franz Semmernegg has been a member of the Supervisory Board since June 2002 and its Chairman since June 2005. Positions he holds within the KAPSCH Group include:

  • since October 2001: CFO of Kapsch Aktiengesellschaft
  • since March 2003: CFO of Kapsch BusinessCom AG, since April 2010 additionally CEO
  • since April 2005: CFO of KAPSCH-Group Beteiligungs GmbH

Year first appointed: 2002
Year of expiry of the current term: 2023 

Dr. Harald Sommerer has been Deputy Chairman of the Supervisory Board since September 2020.

Year first appointed: 2013
Year of expiry of the current term: 2023

Dipl.-Betriebsw. Sabine Kauper
Year first appointed: 2011
Year of expiry of the current term: 2022 

Dr. Kari Kapsch, brother of Georg Kapsch (CEO), has been a member of the Supervisory Board since June 2002. His positions within the Kapsch Group include:

  • since March 2001: COO of Kapsch Aktiengesellschaft
  • since December 2005: COO of KAPSCH-Group Beteiligungs GmbH
  • since June 2010: chairman of the Supervisory Board of Kapsch BusinessCom AG
  • since October 2016: Managing Director of Kapsch PublicTransportCom GmbH

Year first appointed: 2002
Year of expiry of the current term: 2023 

Ing. Christian Windisch, delegate of the works committee, has worked for the KAPSCH Group since September 1984.

Year first appointed: 2002 
Year of expiry of the current term: n/a

Claudia Rudolf-Misch, MBA, delegate of the works committee.

Year first appointed: 2018
Year of expiry of the current term: n/a

None of the members mentioned above is on the Executive Board of a market-listed company. Neither do they hold more than four Supervisory Board mandates at a time in stock companies outside of the Group. They also do not hold any positions in companies that are in competition with Kapsch TrafficCom AG. Harald Sommerer is Deputy Chairman of the Supervisory Board of the listed company VARTA AG. Beyond that, none of the members mentioned above holds Supervisory Board mandates or comparable functions in other market-listed companies.

Franz Semmernegg and Claudia Rudolf-Misch each currently hold 228 shares in Kapsch TrafficCom AG. The other members of the Supervisory Board do not hold any shares or share options in the company.

Committees of the Supervisory Board

The Supervisory Board has appointed an Audit Committee and a Remuneration Committee.
 

Audit Committee

The Audit Committee consists of Franz Semmernegg (Chairman and financial expert), Harald Sommerer (financial expert), and Christian Windisch.

Its duties are listed in Section 92 (4) AktG and Regulation (EU) No 537/2014. They include:

  • audit and preparation of the approval of the annual financial statements and the consolidated financial statements,
  • audit of the consolidated corporate governance report and the consolidated non-financial report,
  • handling of the risk management report in accordance with C-Rule 83 of the ÖCGK,
  • oversight of the audit process of the financial statements (consolidated financial statements audit) and the independence of the auditor (including assessment and approval of non-audit services),
  • preparation of a proposal for the distribution of dividends,
  • preparation of the report to the Annual General Meeting,
  • preparation of the proposal for the selection of the annual auditor (consolidated accounts auditor),
  • oversight of the accounting process as well as the effectiveness of the internal control system and the risk management system.

Remuneration Committee

The Remuneration Committee consists of Franz Semmernegg (chairman) and Harald Sommerer. This committee is in charge of the content of the service contracts (including remuneration) of the members of the Executive Board and is authorized to make decisions to this extent. The appointment or termination of the appointment of Executive Board members is not part of its remit.

Remuneration of the Executive Board and Supervisory Board of Kapsch TrafficCom

Remuneration policy

At its meeting of June 15, 2020, the Supervisory Board adopted the Remuneration Policy for the Executive Board and the Supervisory Board as proposed by the Committee for Executive Board Matters. On September 9, 2020, at the ordinary Annual General Meeting, 99.99% of the represented share capital (70.44%) approved the presented remuneration policy. The result has the character of a recommendation and cannot be contested. Thereafter, the Remuneration Policy shall be presented to the Annual General Meeting at least every fourth financial year for a vote.

It should be noted that the remuneration paid to members of the Supervisory Board must be set at the Annual General Meeting.

Remuneration of the Executive Board and Supervisory Board

Information on the remuneration of the members of the Executive Board and the Supervisory Board in the 2019/2020 financial year is included in the Corporate Governance Report 2019/20. The upcoming remuneration reports will be available in our Download Center.

Diversity

A key focus of Kapsch TrafficCom in the area of diversity is the collaboration between men and women. Various measures to promote the advancement of women within the Group shall lead to an increasing number of women in management positions.

Goal: By 2023, 30% of all Kapsch TrafficCom managers should be female. 

Women on the Supervisory Board and Executive Board of Kapsch TrafficCom

Kapsch TrafficCom does not have a specific plan for the appointment of women in the Executive Board, Supervisory Board, and other executive functions.

The fact is that every person is considered for a management position at Kapsch TrafficCom if

  • their professional and social skills are convincing,
  • they have sufficient experience,
  • he or she is a team player.

For appointment/reappointment to the Executive Board, the candidate must not be older than 65 years of age. For the Supervisory Board, this age limit is 75 years.

Religion, gender, sexual orientation, pregnancy, ethnicity, skin color, age, or physical limitations do not play a role.

Women in leadership positions

In the 2019/20 financial year, there was no woman on the Executive Board of Kapsch TrafficCom. At Kapsch TrafficCom AG, 13 people have power of procuration ("Prokura") – three of them are women.

Articles of Association and Code of Conduct

The Articles of Association in their current version (September 9, 2020) are available for download:
> Kapsch TrafficCom AG Articles of Association

The Code of Conduct contains the fundamental principles, guidelines, and recommendations for ethical, moral, and legally correct decision making and behavior of all employees of Kapsch.
> Code of Conduct of the KAPSCH Group 

Notifications on shareholdings

Notifications of changes in major shareholdings must be made if, as a consequence of an acquisition, disposal or other transaction, the proportion of voting rights of an issuer reaches, exceeds or falls below a threshold of:
4%, 5%, 10%, 15%, 20%, 25%, 30%, 35%, 40%, 45%, 50%, 75% or 90%.

You can find the corresponding form here:

Overview of all notifications on shareholdings:

from 2016:

Notification pursuant to Section 93 of the Austrian Stock Exchange Act until 2015:

See all
  • 9. Juli 2015
    Notification

    Vienna, on July 9, 2015  – Kapsch TrafficCom AG (ISIN AT000KAPSCH9), listed in the Prime Market of the Vienna Stock Exchange, has been notified that The Bank of New York M…

    Lese den gesamten Artikel
  • 9. Juli 2015
    Mitteilung

    Wien, am 9. Juli 2015  – Die im Prime Market der Wiener Börse notierte Kapsch TrafficCom AG (ISIN AT000KAPSCH9) wurde informiert, dass The Bank of New York Mellon Corporation sowie …

    Lese den gesamten Artikel
  • 11. Mai 2015
    Mitteilung

    Wien, am 11. Mai 2015  – Die im Prime Market der Wiener Börse notierte Kapsch TrafficCom AG (ISIN AT000KAPSCH9) wurde informiert, dass The Bank of New York Mellon Corporation s…

    Lese den gesamten Artikel
  • 11. Mai 2015
    Notification

    Vienna, on May 11, 2015  – Kapsch TrafficCom AG (ISIN AT000KAPSCH9), listed in the Prime Market of the Vienna Stock Exchange, has been notified that The Bank of New York M…

    Lese den gesamten Artikel
  • 5. Dezember 2014
    Mitteilung

    Wien, 5. Dezember 2014 – Die im Prime Market der Wiener Börse notierte Kapsch TrafficCom AG (ISIN AT000KAPSCH9) wurde informiert, dass Schroders plc und ihre Tochtergesellschaften sowie …

    Lese den gesamten Artikel
  • 5. Dezember 2014
    Notification

    Vienna, on December 5, 2014 – Kapsch TrafficCom AG (ISIN AT000KAPSCH9), listed in the Prime Market of the Vienna Stock Exchange, has been notified that Schroders plc and its fellow s…

    Lese den gesamten Artikel
  • 7. März 2014
    Mitteilung

    Wien, am 7. März 2014 – Die im Prime Market der Wiener Börse notierte Kapsch TrafficCom AG (ISIN AT000KAPSCH9) wurde informiert, dass Schroders plc und ihre Tochtergesellschaften sowie v…

    Lese den gesamten Artikel
  • 7. März 2014
    Notification

    Vienna, on March 7, 2014 – Kapsch TrafficCom AG (ISIN AT000KAPSCH9), listed in the Prime Market of the Vienna Stock Exchange, has been notified that Schroders plc and its fellow s…

    Lese den gesamten Artikel
  • 24. Mai 2013
    Mitteilung

    Wien, am 24. Mai 2013 – Die im Prime Market der Wiener Börse notierte Kapsch TrafficCom AG (ISIN AT000KAPSCH9) wurde informiert, dass The Capital Group Companies Inc., die M…

    Lese den gesamten Artikel
  • 24. Mai 2013
    Notification

    Vienna, on May 24, 2013 – Kapsch TrafficCom AG (ISIN AT000KAPSCH9), listed in the Prime Market of the Vienna Stock Exchange, has been informed that the aggregate holdings of The Capital …

    Lese den gesamten Artikel
  • 1. März 2013
    Mitteilung

    Wien, 01. März 2013 – Die im Prime Market der Wiener Börse notierte Kapsch TrafficCom AG (ISIN AT000KAPSCH9) wurde informiert, dass von Capital Research and Management Company verwaltete F…

    Lese den gesamten Artikel
  • 1. März 2013
    Notification

    Vienna, March 1, 2013 – Kapsch TrafficCom AG (ISIN AT000KAPSCH9), listed in the Prime Market of the Vienna Stock Exchange, has been informed that the aggregate shareholding of funds m…

    Lese den gesamten Artikel
  • 14. Februar 2012
    Mitteilung

    Wien, 14. Februar 2012 – Die im Prime Market der Wiener Börse notierte Kapsch TrafficCom AG (ISIN AT000KAPSCH9) wurde informiert, dass von Capital Research and Management Company verwaltete F…

    Lese den gesamten Artikel
  • 14. Februar 2012
    Notification

    Vienna, February 14, 2012 – Kapsch TrafficCom AG (ISIN AT000KAPSCH9), listed in the Prime Market of the Vienna Stock Exchange, has been informed that the aggregate shareholding of funds m…

    Lese den gesamten Artikel
  • 27. September 2011
    Mitteilung

    Wien, 27. September 2011 – Die im Prime Market der Wiener Börse notierte Kapsch TrafficCom AG (ISIN AT000KAPSCH9) wurde informiert, dass von Capital Research and Management Company v…

    Lese den gesamten Artikel
  • 27. September 2011
    Notification

    Vienna, September 27, 2011 – Kapsch TrafficCom AG (ISIN AT000KAPSCH9), listed in the Prime Market of the Vienna Stock Exchange, has been informed that the aggregate shareholding of funds m…

    Lese den gesamten Artikel

Managers' transactions

Declarations regarding managers' transactions ("directors' dealings") by executives up to and including 2 July 2016 are available in the directors’ dealings database of the Austrian Financial Market Authority:

Since July 3, 2016, the following managers' transactions were concluded:

  • KAPSCH-Group Beteiligungs GmbH acquired 1,304 shares in Kapsch TrafficCom AG at a price of EUR 39.68 per share. Place of transaction: outside a trading venue. Date: 2016-12-01; UTC +1
  • KAPSCH-Group Beteiligungs GmbH acquired 228 shares in Kapsch TrafficCom AG at a price of EUR 36.83 per share. Place of transaction: outside a trading venue. Date: 2016-09-06; UTC +2

ISIN Kapsch TrafficCom AG share: AT000KAPSCH9
LEI of Kapsch TrafficCom: 529900PD3SI453KAW989

Kapsch TrafficCom AG declares its voluntary commitment to the Austrian Code of Corporate Governance (ÖCGK) as amended in January 2018.

In the 2019/20 financial year, Kapsch TrafficCom complied with all required provisions of the ÖCGK as amended in January 2018 with the following declarations:
  • C-Rule 27 – A separate provision on the reclaiming of variable remuneration components was not included in Executive Board contracts concluded before 2020. Based on the prevailing Austrian legal situation, the company can reclaim variable remuneration components if it becomes clear that these were paid out only on the basis of obviously false data. The Executive Board contract of Georg Kapsch valid as of 1 April 2020 already complies with C-Rule 27.
  • C-Rule 27a – In the past, limits on severance payments could not be enforced for the relevant employment market. They were therefore not considered to be purposeful and are not found in the Executive Board contracts of Mr. Laux and Mr. Escribá. However, in the course of establishing a new remuneration policy for the Executive Board and Supervisory Board, the situation was reassessed. The Executive Board contract of Georg Kapsch, valid from 1 April 2020, already complies with C-Rule 27a.

The decisions on these deviations were reached by the Supervisory Board of Kapsch TrafficCom AG. 

Kapsch TrafficCom Headquarters