Relative Development of Compensation

The annual changes in the compensation for members of the Executive Board and the Supervisory Board, in the average compensation for employees in Germany on a full-time equivalent basis, and in the development of the company’s earnings, are outlined in accordance with § 162 AktG in the following.

The development of the company’s earnings is shown using key indicators that are also relevant for the variable performance-related compensation of Executive Board members. The workforce of adidas AG (including all employee groups) was used as relevant peer group representing all employees. In the 2021 financial year, the average total number of full-time equivalent employees was 7,143 (2020: 7,028). The average employee compensation was calculated on the basis of annual personnel expenses for the peer group. This includes the cost of wages and salaries, short- and long-term variable compensation components, other benefits, employer’s social security contributions, and pension expenses.

The following table shows the relative development of total compensation for the active members of the Executive Board during the year under review. The performance-related variable compensation for Executive Board members granted in accordance with the compensation system valid during the year under review is shown for the year for which the compensation was agreed upon, and for which the underlying service has been fully rendered by the balance sheet date on December 31, of the respective financial year. The variable performance-related compensation components granted for the respective financial year are payable only following approval of the consolidated financial statements for the past financial year.

Pension payments to former members of the Executive Board as well as the compensation payments to former members of the Executive Board, which, in addition to the annual Executive Board compensation, also include any severance payments and any compensation owed under the post-contractual competition prohibitions payable by the company on a monthly basis, are shown individually.

The annual service costs for the defined contribution pension commitments granted to active members of the Executive Board appointed before January 1, 2021, are not shown in the following, as these costs do not qualify as compensation granted and due as specified in § 162 AktG.

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Relative compensation development: compensation granted and due for the Executive Board members

 

 

2021

 

2020

 

2019

 

2018

 

201710

 

 

in €/%

 

Change
in %/pp

 

in €/%

 

Change
in %/pp

 

in €/%

 

Change
in %/pp

 

in €/%

 

Change
in %/pp

 

in €/%

 

Change
in %/pp

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings development € in millions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales1

 

21,234

 

7%

 

19,844

 

(16%)

 

23,640

 

8%

 

21,915

 

3%

 

21,218

 

–

Gross margin1

 

50.7%

 

1.0 PP

 

49.7%

 

(2.3 pp)

 

52.0%

 

0.2 pp

 

51.8%

 

1.4 pp

 

50.4%

 

–

Operating margin1

 

9.4%

 

5.6 pp

 

3.8%

 

(7.5 pp)

 

11.3%

 

0.5 pp

 

10.8%

 

1.0 pp

 

9.8%

 

–

Net income from continuing operations1

 

1,492

 

248%

 

429

 

(78%)

 

1,918

 

12%

 

1,709

 

20%

 

1,430

 

–

Net income of adidas AG in accordance with the German Commercial Code
(Handelsgesetzbuch – HGB)

 

1,850

 

174%

 

674

 

(65%)

 

1,947

 

37%

 

1,424

 

159%

 

549

 

–

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average annual compensation of employees in Germany (on a full-time equivalent basis) € in thousands

 

108

 

15%

 

93

 

(15%)

 

110

 

11%

 

98

 

2%

 

96

 

–

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total annual compensation of Executive Board members € in thousands

 

 

 

 

 

 

 

 

 

 

Kasper Rorsted

 

8,990

 

245%

 

2,603

 

(59%)

 

6,381

 

(10%)

 

7,111

 

(18%)

 

8,650

 

–

Roland Auschel

 

3,889

 

222%

 

1,207

 

(58%)

 

2,883

 

(8%)

 

3,129

 

(32%)

 

4,624

 

–

Brian Grevy2

 

3,238

 

58%

 

2,049

 

 

 

–

 

 

 

–

 

 

 

–

 

–

Harm Ohlmeyer3

 

3,988

 

257%

 

1,116

 

(48%)

 

2,164

 

(11%)

 

2,435

 

18%

 

2,059

 

–

Amanda Rajkumar4

 

4,345

 

 

 

–

 

 

 

–

 

 

 

–

 

 

 

–

 

–

Martin Shankland5

 

3,550

 

287%

 

917

 

(52%)

 

1,920

 

 

 

–

 

 

 

–

 

–

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payments to former Executive Board members € in thousands

 

 

 

 

 

 

 

 

 

 

 

 

Karen Parkin6

 

450

 

(92%)

 

5,976

 

158%

 

2,315

 

(4%)

 

2,401

 

50%

 

1,604

 

–

Eric Liedtke7

 

284

 

(43%)

 

500

 

(94%)

 

8,676

 

153%

 

3,434

 

(30%)

 

4,883

 

–

Gil Steyaert8

 

56

 

(84%)

 

344

 

(91%)

 

3,838

 

74%

 

2,207

 

37%

 

1,606

 

–

Herbert Hainer9

 

662

 

1%

 

653

 

(56%)

 

1,483

 

(36%)

 

2,324

 

(62%)

 

6,091

 

–

Payments to Executive Board members who
left before December 31, 2011

 

2,289

 

(5%)

 

2,418

 

(4%)

 

2,515

 

2%

 

2,467

 

2%

 

2,424

 

–

1

From continuing operations as reported in the Annual Report for the respective financial year. As of the 2021 financial year, Reebok is shown as discontinued operations.

2

Executive Board member with effect from February 1, 2020.

3

Executive Board member with effect from March 7, 2017.

4

Executive Board member with effect from January 1, 2021.

5

Executive Board member with effect from March 4, 2019.

6

Executive Board member with effect from May 12, 2017, until June 30, 2020. In addition to the compensation as a member of the Executive Board, the compensation disclosed for Karen Parkin for the 2020 financial year also includes the severance payment granted to her in connection with her departure. From the date of her departure, for the duration of the contractually agreed competition prohibition Karen Parkin receives a monthly compensation amounting to 50% of the last monthly fixed compensation paid.

7

Executive Board member until December 31, 2019. In addition to the compensation as a member of the Executive Board, the compensation disclosed for Eric Liedtke for the 2019 financial year also includes the severance payment granted to him in connection with his departure. From the date of his departure, for the duration of the contractually agreed competition prohibition Eric Liedtke received a monthly compensation amounting to 50% of the last monthly fixed compensation paid.

8

Executive Board member with effect from May 12, 2017, until February 26, 2019. In addition to the compensation as a member of the Executive Board, the compensation disclosed for Gil Steyaert for the 2019 financial year also includes the severance payment granted to him in connection with his departure. From the date of his departure, for the duration of the contractually agreed competition prohibition, Gil Steyaert received a monthly compensation amounting to 50% of the last monthly fixed compensation paid.

9

Chief Executive Officer and Executive Board member until September 30, 2016. The compensation disclosed for Herbert Hainer consists of compensation granted to him in connection with his departure as well as of the monthly compensation paid to him for the duration of the contractually agreed competition prohibition in the amount of 50% of the last monthly fixed compensation. Since 2019, Herbert Hainer receives a monthly pension payment, which is paid against the background of the defined benefit pension plan granted to him and is adjusted annually in the same proportion as well as at the same time as the statutory pensions in Germany.

10

Increased compensation for the 2017 financial year for members of the Executive Board in light of the payout of the three-year LTIP Bonus (LTIP 2015/2017).

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Relative compensation development: compensation granted and due for the Supervisory Board members

 

 

2021

 

2020

 

2019

 

20186

 

2017

 

 

in €

 

Change
in %

 

in €

 

Change
in %

 

in €

 

Change
in %

 

in €

 

Change
in %

 

in €

 

Change
in %

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Members of the Supervisory Board as at December 31, 2021 € in thousands

 

 

 

 

 

 

 

 

 

 

 

 

Thomas Rabe, Chairman of the Supervisory Board1

 

322

 

30%

 

249

 

81%

 

137

 

–

 

–

 

–

 

–

 

–

Ian Gallienne, Deputy Chairman of the Supervisory Board

 

202

 

58%

 

128

 

(25%)

 

171

 

1%

 

169

 

29%

 

131

 

–

Udo Müller, Deputy Chairman of the Supervisory Board

 

201

 

0%

 

202

 

20%

 

169

 

94%

 

87

 

22%

 

71

 

–

Petra Auerbacher1

 

82

 

1%

 

81

 

40%

 

58

 

–

 

–

 

–

 

–

 

–

Roswitha Hermann1

 

82

 

1%

 

81

 

48%

 

55

 

–

 

–

 

–

 

–

 

–

Jackie Joyner-Kersee2

 

52

 

–

 

–

 

–

 

–

 

–

 

–

 

–

 

–

 

–

Christian Klein3

 

81

 

161%

 

31

 

–

 

–

 

–

 

–

 

–

 

–

 

–

Kathrin Menges

 

134

 

66%

 

81

 

(8%)

 

88

 

2%

 

86

 

24%

 

69

 

–

Roland Nosko

 

122

 

0%

 

122

 

(9%)

 

134

 

4%

 

129

 

20%

 

107

 

–

Beate Rohrig1

 

82

 

1%

 

81

 

43%

 

57

 

–

 

–

 

–

 

–

 

–

Nassef Sawiris

 

82

 

1%

 

81

 

(9%)

 

89

 

2%

 

87

 

24%

 

70

 

–

Frank Scheiderer1

 

163

 

(1%)

 

164

 

46%

 

112

 

–

 

–

 

–

 

–

 

–

Michael Storl1

 

82

 

1%

 

81

 

40%

 

58

 

–

 

–

 

–

 

–

 

–

Bodo Uebber1, 4

 

243

 

26%

 

193

 

253%

 

55

 

–

 

–

 

–

 

–

 

–

Jing Ulrich1

 

80

 

0%

 

80

 

41%

 

57

 

–

 

–

 

–

 

–

 

–

Günter Weigl1

 

163

 

(1%)

 

164

 

46%

 

112

 

–

 

–

 

–

 

–

 

–

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Member of the Supervisory Board until the end of the Annual General Meeting on May 12, 2021

 

 

 

 

 

 

 

 

Herbert Kauffmann5

 

58

 

(73%)

 

212

 

(17%)

 

254

 

1%

 

252

 

30%

 

193

 

–

1

Supervisory Board member from the end of the Annual General Meeting on May 9, 2019.

2

Supervisory Board member from the end of the Annual General Meeting on May 12, 2021.

3

Supervisory Board member from the end of the Annual General Meeting on August 11, 2020.

4

Chairman of the Audit Committee from the end of the Annual General Meeting on August 11, 2020.

5

Supervisory Board member until the end of the Annual General Meeting on May 12, 2021. Chairman of the Audit Committee until the end of the Annual General Meeting on August 11, 2020.

6

Increase in Supervisory Board compensation as of July 1, 2017, in light of the adjusted compensation for members of the Supervisory Board resolved by the 2017 Annual General Meeting.