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Corporate Governance

Corporate governance plays a key role for Kapsch TrafficCom because close cooperation between the company’s management and Supervisory Board is essential in order to safeguard shareholder interests. Kapsch TrafficCom AG declares its voluntary commitment to the January 2018 version of the Austrian Code of Corporate Governance, which can be downloaded from below or the website www.corporate-governance.at.

 

In the 2018/19 fiscal year which ended on March 31, 2019, Kapsch TrafficCom satisfied all of the conditions of the January 2018 version of the ACCG in terms of content with the following statements:

  • C-Rule 27 – The profit-related variable remuneration components of Mr. Laux and Mr. Lewald are based on the amount of the EBIT. When the employment contract was concluded, care was taken to ensure that the variable component would probably not exceed the fixed payment in any one year. Therefore, in the past, no upper limit was set for variable remuneration components. New Executive Board contracts will nevertheless provide for such an upper limit. The Executive Board contracts do not contain a separate provision for reclaiming variable remuneration components. Due to the prevailing Austrian legal situation, the corporation may reclaim variable compensation components if it was paid on the basis of manifestly incorrect data.
     
  • C-Rule 27a – Restrictions on severance pay are not enforceable on the relevant labor market and are not considered by the company to be expedient.

The decision regarding these deviations was made by the Supervisory Board of Kapsch TrafficCom AG.