The most comprehensive analyses of worldwide market practice of equity-based compensation

Global Equity Insights Survey 2021

Volatile markets, external forces and global shocks have significantly influenced equity programs over the past year, according to the ninth edition of the Global Equity Insights Survey. Check out the study flyer for insights. read more ...

hkp/// group HCM Monitor DAX 2021 – in collaboration with DGFP, DIRK and the Academy of Labour

Investors are looking for effective HR management reporting in DAX companies

hkp/// group HCM Monitor DAX 2021: Initial international analyses of non-financial reporting on human capital management reveals considerable room for improvement when it comes to content, scope, consistency, and integration. read more ...

Kai H. Helfritz, Member of the Executive Board of DGFP - the German Society for Human Resource Management, in an interview with hkp.com

HCM: new quality of HR communication required

ESG issues are playing an increasingly important role for investors. This also includes aspects of human capital management (HCM). Kai H. Helfritz, Member of the Management Board of DGFP, talks about the consequences for HR. read more ...

Press information on the hkp/// group analysis "Executive and Non-Executive Director Compensation in Europe 2020"

Corona shakes up CEO compensation in Europe

European top managers waive parts of their compensation due to the current crisis. Findings of the hkp/// group analysis "Executive and Non-Executive Director Compensation in Europe 2020". read more ...

An interview with Kay Bommer, Managing Director of DIRK - the German Investor Relations Association

HCM: new requirements for investor relations

After BlackRock focused its attention more on human capital management (HCM) at the beginning of the year, the question for IR is what the consequences will be. hkp.com in conversation with DIRK Managing Director Kay Bommer. read more ...

Update on the hkp// group analysis "Annual Report Evaluation of Executive Board Compensation DAX 2020

Compensation paid to DAX CEOs: two unconventional companies skew the overall picture

Now published record compensation of the CEOs of Delivery Hero and Linde turns previous significant decline into a significant increase in executive compensation in the DAX 2020. An update on the hkp/// group analysis. read more ...

The next generation of internal talent is joining the executive board of the international HR management consultancy

hkp/// group acclaims three new partners: Nina Grochowitzki, Dr. Pia Lünstroth, and David Voggeser

With Nina Grochowitzki, Dr. Pia Lünstroth, and David Voggeser, the hkp/// group is welcoming three new members to its circle of partners. All three consultants have been on board since the founding of the consultancy in 2011. read more ...

hkp/// group analysis “Annual Report Evaluation Management Board Compensation DAX 2020”

Corona puts an end to a decade of compensation increases among DAX companies

Compensation of DAX CEOs suffers the biggest slump since disclosure became mandatory: average compensation of DAX CEOs falls by 28% to an average of EUR 5.3 million in the face of sharply declining earnings so far. read more ...

Institutional investors are increasingly focusing on ESG (environmental, social, governance) issues - HCM aspects are being prioritized more than ever

Investors’ focus on Human Capital Management – opportunity for HR

At first, the investors' focus was on financials, then governance issues played a key role, followed by a broader view on sustainability. In the meantime, human capital management (HCM) issues are being prioritized more strongly. read more ...

Share-based long-term incentives for sustainable remuneration systems

Evaluation of share-based remuneration

In the interests of providing a sustainable remuneration system for board members and executives many companies use share-based remuneration instruments as part of their long-term incentive (LTI) schemes. read more ...

hkp/// group Expert Interview

Don’t let your remuneration policy ruin your IPO

A lot of preparatory work is needed for a successful IPO. In an interview with hkp.com, hkp// group experts Petra Knab-Hägele and Dr. Jan Dörrwächter explain which measures are important in HR and compensation. read more ...

The working group of well-known supervisory board chairs, institutional investors, academics and corporate governance experts presents an updated version of the Guidelines for Sustainable Management Board Remuneration

Updated Guidelines for Sustainable Management Board Remuneration

The Guidelines for Sustainable Management Board Remuneration, published for the first time in July 2018, are available now in an updated version in line with legal and regulatory changes. read more ...

Approval ratings and shortcomings based on the say-on-pay results of Austria’s leading listed companies at their 2020 annual general meetings

ATX companies: A wake-up call for Management Board compensation

Due to new legal and regulatory regulations, Austrian listed companies were forced to review the design of their Management Board compensation policies and put them to a ‘say-on-pay’ vote at their 2020 annual general meetings. read more ...

Michael H. Kramarsch on the quality of top investors' voting guidelines regarding Management Board compensation

Investors Say-on-pay voting lacks professional standards

"With great influence comes great responsibility!" - On LinkedIn Michael H. Kramarsch explains why most of the top 40 investors lack professional standards regarding say-on-pay votings at AGMs. read more ...

Press release on an analysis by hkp/// group, University of Göttingen and DIRK

Management Board Compensation: Participation challenges DAX investors

Despite improved transparency, there remains a lack of clarity and a considerable ambiguity with respect to the voting guidelines for Management Board compensation - an analysis by hkp/// group, University of Göttingen and DIRK. read more ...

Dr. Christine Abel and Nina Grochowitzki interviewed by hkp.com

Measurable targets in unpredictable times - the award of LTIs during the COVID-19 crisis

Variable Compensation: What should be done with the award of Long Term Incentives (LTIs) for 2020? The compensation experts Dr. Christine Abel and Nina Grochowitzki provide answers in an interview with hkp.com. read more ...

hkp/// group analysis of “Executive and Non-Executive Director Compensation in Europe 2019”

Top management compensation between Corona crisis and social responsibility

European top managers waive parts of their compensation due to the current Corona crisis. CEO compensation of STOXX companies for the financial year 2019 remains at last year’s level. Findings of a recent hkp/// group analysis. read more ...

Nina Grochowitzki and Dr. Pia Lünstroth interviewed by hkp.com

General meetings in a world of COVID-19: Uncharted digital territory for companies and shareholders

General Meetings will look somewhat different due to the COVID-19 pandemic in 2020. Nina Grochowitzki and Dr. Pia Lünstroth explain what the Supervisory Board and the Management Board need to prepare for, especially in compensation matters. read more ...

An article by Pay Governance - strategic alliance partner of hkp/// group for North America and Asia

Is a Replacement for Short-Term Incentive Plans Right for You?

When it comes to 2020 incentive arrangements for calendar-year-end companies, COVID-19’s arrival in the United States could not have come at a worse time. read more ...

Dr. Pia Lünstroth and Dr. Jan Dörrwächter interviewed by hkp.com

Compensation with AktRÄG: The countdown is on

New requirements for upcoming annual general meetings in Austria are on the horizon. Dr. Pia Lünstroth and Dr. Jan Dörrwächter comment on the first experiences of implementing the Stock Corporation Amendment Act 2019 (AktRÄG). read more ...

Regine Siepmann and Dr. Jan Dörrwächter interviewed by hkp.com

ARUG II: Implementation moves forward

The Act implementing the Second European Shareholder Rights Directive into German law has been in force since the beginning of the year. Regine Siepmann and Dr. Jan Dörrwächter comment on the first experiences of implementing ARUG II. read more ...

Focus France: CEO compensation in Europe

CEO compensation levels in French CAC 40 companies have recorded a growth rate of 13.8% since 2017 – yet mainly due to changes in the index composition read more ...

hkp/// group Senior Partner Joachim Kayser interviewed by hkp.com

For more sustainability in compensation

The real estate industry is facing major challenges in a wide variety of different ways. A discussion with industry expert and hkp/// group Senior Partner Joachim Kayser on backgrounds, solutions and the action that needs to be taken. read more ...

Dr. Jan Dörrwächter and Frank Gierschmann interviewed by hkp.com

Succession Planning - key task of Supervisory Boards

Why succession planning for managing board positions is an essential element of risk management within the company and what supervisory boards need to be aware of. Dr. Jan Dörrwächter and Frank Gierschmann interviewed by hkp.com read more ...

Regine Siepmann and Dr. Pia Lünstroth interviewed by hkp.com

Dawn of a new era for Board Compensation in Austria

The Austrian National Council passed the Shareholders' Rights Amendment Act (AktRÄG 2019) on July 2nd, 2019. After the approval of the Federal Council on July 11th, 2019, it is effective. read more ...

Moderate increase despite declining profits

DAX Supervisory Board remuneration 2018

The average total remuneration paid to the Chairmen of the Supervisory Board at DAX increased by around 4% in 2018 to €424,000. Decline in consolidated net profit illustrates decoupling of the company's success and shareholder interests. read more ...

Further moderate increases lead to yet another all-time high

DAX Management Board Compensation 2018

Total compensation for DAX CEOs increased by 3.6% to an average EUR 7.5 million whilst profits remained stable. Beiersdorf’s CEO earnings reached a new all-time high with EUR 23.45 million. read more ...

Regine Siepmann und Hannes Klingenberg interviewed by hkp.com

More Say than Substance

hkp/// group experts Regine Siepmann and Hannes Klingenberg discuss the results of a current study by hkp/// group regarding the Executive Compensation voting guidelines of the 40 top investors in DAX companies. read more ...

Proxy guidelines of DAX top investors in focus

Limited light, plenty of shadows

Voting guidelines for board compensation do not fulfill minimum requirements. A joint analysis by hkp /// group, University of Göttingen and DIRK reveals need for action against the backdrop of ARUG II. read more ...

Best Practice in Top Management Compensation

Guidelines for sustainable management board remuneration systems

A working group of well-known chairs of German supervisory boards, institutional investors, academics and corporate governance experts has presented guidelines for sustainable remuneration systems for German publicly listed companies. read more ...

hkp/// group Analysis

Earnings for top managers in Europe

CEO Compensation in leading European companies has risen by 3%, but remains below the peak value of 2015. By contrast, pay for Supervisory Board members is in marginal decline. Switzerland is a pay paradise for CEOs and chairpersons. read more ...

hkp.com interview with Regine Siepmann and Frank Gierschmann

Succession Planning as essential Corporate Governance Aspect

The hkp/// group Survey “Succession planning for board members” shows: A functioning succession plan is still a central element enabling to fill vacancies as quickly as possible with the best suited candidates. read more ...

Supervisory Board Members between control focus and strategy approach

Supervisory Board compensation in the DAX: Fair and reasonable at the top

The average total compensation of Supervisory Board Chairpersons in the DAX increased by 6% to €408,000. The focus on purely fixed compensation decouples compensation and performance. read more ...

New hkp/// group Analysis

DAX Management Board Compensation 2017: Moderate increase to a new all-time high

Total compensation for CEOs in the DAX increases by 3.5% to an average of EUR 7.4 million – corporate profits grow by 36%. Significantly improved compensation reports pick up on investors' requirements. read more ...

Recent hkp/// group analysis

Management board compensation between company interests and investor demands

Study by hkp/// group und Ipreo analyzes the ownership structure of DAX index listed companies and the decisions taken by the top 30 investors in relation to management board compensation. read more ...

Michael H. Kramarsch und Andreas Posavac interviewed by hkp.com

Say-on-Pay: uncertain times for DAX-companies

hkp/// group and Ipreo have analyzed the ownership structure of DAX-listed companies and worked out how different investors and proxy advisors act in relation to management board remuneration and what kind of patterns can be identified. read more ...

Michael H. Kramarsch and Dr. Jan Dörrwächter on the regulation of proxy firms

A smart move!

Given the current conflicts of interest, the Swiss Financial Market Supervisory Authority FINMA has declined to regulate proxy firms at this point, leaving it open for the government to propose legislation. read more ...

Swiss Stock Exchange: New Information and Transparency Regulations?

Regulation of Proxy Advisors

Michael H. Kramarsch and Dr. Jan Dörrwächter on possible amendments to the information and transparency regulations for the use of proxy advisors at the Swiss Stock Exchange. read more ...

Nina Grochowitzki, Dr. Pia Lünstroth and Regine Siepmann interviewedy by hkp.com

CFO compensation in Germany

The public debate on compensation in stock companies often focuses not just on the CEOs but also on the Chief Financial Officers (CFO). hkp/// group experts about developments in CFO compensation at Germany's DAX and MDAX firms. read more ...

Executve / Non-Executive Compensation Data directly accessable

boardpay.com launched

The new hkp/// group online platform offers direct access to publicly available, high-quality compensation data for more than 10,000 management and supervisory board members at Europe's top companies. read more ...

Between regulatory Requirements and voluntary Best Practice

Evaluating Supervisory and Executive Committees at Financial Institutions

Initially somewhat overlooked, the January 2014 amendments to the German Banking Act (KWG) tightened up the requirements for evaluating supervisory committees at financial institutions. hkp.com spoke to Petra Knab-Hägele and Joachim Kayser. read more ...

Expertise in compensation, finance and risk management for supervisory boards

Board Services: Expertise in compensation and competence in finance and risk for supervisory boards

As independent expert in board services, hkp/// group advises supervisory boards (Aufsichts- und Verwaltungsräte etc.) on corporate governance issues. We help design, monitor and review executive compensation systems and processes. read more ...

For executives, top management and supervisory board bodies

Market comparisons and appropriateness of compensation

The disclosure of compensation data for shareholders as a basis for say-on-pay decisions requires professional and properly documented process for defining top management compensation levels that are in line with the market. read more ...

For executives, top management and supervisory bodies

Variable compensation

Variable compensation is effective. However, it must be steered in the desired direction – through short- or long-term incentives, through cash or share settlement, by means of profit, cashflow, return or other financial indicators. read more ...

Company pensions as key part of compensation and benefits packages

Design of pensions and benefits

Company pensions are a key part of today's compensation and benefits packages. At hkp/// we keep up to date with the latest regulations and market practice in the area of pensions and benefits. read more ...

Professional preperation of compensation and contracts

IPOs and Trade Sales

The capital market creates a favorable atmosphere for buying or selling businesses. All parties involved should consider early on the implications for management compensation and employment contracts. read more ...

Market data, analytics and interpretation

Support of Compensation and Risk Committees

Compensation matters are increasingly dealt with by special committees. The makeup of these committees is determined by law or industry-specific regulations. Their work is analytical and fact-based, and needs to be properly documented. read more ...

Operational support and supervision for management/supervisory boards

Supervisory boards often seek independent external support on operational matters for top managers. hkp/// group supports board members and top management in companies of various sizes at the request of supervisory boards. read more ...

Professional reporting: transparent, easy to understand, fair

Reporting on Compliance, Risk and Corporate Governance, Compensation report

Today's stakeholders are demanding more information than ever on the various specialist areas within the company. This information must be presented in an intelligible manner. Transparent, fair communication is the order of the day. read more ...

An eye on the details

Implementation of compensation issues in contracts

Contracts of employment for board members include many stipulations. Legal expertise, an understanding of compensation systems and an awareness of any possible impact on disclosure and accounting obligations is necessary. read more ...

Variety of methods, structured interviews and document analysis

Efficiency and Effectiveness Reviews for Supervisory Bodies

Legislation and increased business activity place fresh requirements on supervisory bodies and raise the necessity of self-monitoring. Regulations on good corporate governance recommend regular reviews of efficiency and effectiveness. read more ...



Next event
Vom Shareholder- zum Stakeholder-Kapitalismus

ESG-Kriterien in Corporate Governance und Vorstandsvergütung? Die Konferenz des Arbeitskreises Leitlinien für eine nachhaltige Vorstandsvergütung liefert Impulse zu Regulatorik, Investorenanforderungen und Unternehmenspraxis.

29. September 2021, Frankfurt am Main

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