The current compensation system for the members of the Managing Board of Siemens AG has been in place since fiscal 2024 and was regularly submitted to the Annual Shareholders’ Meeting on February 8, 2024. It was endorsed by a majority of 86.44%.

The Supervisory Board has reviewed the compensation system for Managing Board members with regard to regulatory requirements, market practices and investors’ expectations. The Supervisory Board has also taken into consideration the further development of the strategic priorities of Siemens AG and the importance of sustainability for compensation. Since the compensation system has proven its worth in recent years, even in times of major challenges, no fundamental adjustments have been necessary. The compensation system continues to promote the achievement of Siemens’ strategic goals by providing incentives for increasing growth, profit and capital efficiency.

The following chart provides an overview of the key components and the design of the compensation system for Managing Board members. 

A full description of the system is available in the Notice of Annual Shareholders’ Meeting 2024 under Agenda Item 6, “To resolve on the approval of the compensation system for the members of the Managing Board.”

The previous compensation system for the members of the Managing Board of Siemens AG can be found here.