Annual Report 2020

Board of Management remuneration in financial year 2020

Board of Management remuneration in 2020 pursuant to Section 314 Subsection 1 No. 6 of the German Commercial Code (HGB)

The total remuneration granted by Group companies (excluding retirement benefit commitments) to the members of the Board of Management of Daimler AG is calculated as the total of the amounts of

  • the base salary in 2020,
  • the half of the annual bonus for 2020 payable in 2021 and measured as of the end of the reporting period,
  • the half of the medium-term share-based component of the annual bonus for 2020 payable in 2022 with its value at the end of the reporting period (entitlement depending on the development of Daimler’s share price compared with the STOXX Europe Auto Index),
  • the value of the long-term share-based remuneration (PPSP) at the time when granted in 2020, and
  • the taxable non-cash benefits in 2020.

For both of the share-based components — the second 50 % of the annual bonus and the PPSP with a long-term orientation — the amounts actually paid out can deviate significantly from the values described depending on the development of the Daimler share price and on the achievement of the relevant target parameters. Upward deviation is possible only as far as the maximum limits described above. Both components can also be zero.

The possible upper limits with regard to the annual bonus and the PPSP are shown in tables B.50 and B.51

Taking into account the voluntary agreement on the part of the Board of Management to forgo 20 % of their base salary from April 1 to December 31, the total remuneration of the Board of Management for financial year 2020 amounts to €28.1 million (2019: €24.2 million). Of that total, €7.8 million was fixed, that is, non-performance-related remuneration (2019: €8.9 million), €11.1 million (2019: €2.0 million) was short-term and medium-term variable performance-related remuneration (annual bonus with deferral), and €9.2 million was variable performance-related remuneration granted in the financial year with a long-term incentive effect (2019: €13.3 million). (See table B.52)

B.52 Board of Management remuneration in 2020

Base salary1 Short and medium-term variable remuneration (annual bonus) Long-term variable remuneration (PPSP) Total
Short-term Medium-term Number Value when granted
(2020: at share price €42.73)
(2019: at share price €50.00)
In thousands of euros
Ola Källenius2 2020 1,415 1,232 1,232 47,702 2,038 5,917
2019 1,340 168 168 36,982 1,849 3,525
Martin Daum 2020 707 616 616 23,851 1,019 2,958
2019 832 104 104 22,169 1,108 2,148
Renata Jungo Brüngger 2020 707 614 616 23,851 1,019 2,958
2019 832 104 104 22,169 1,108 2,148
Wilfried Porth 2020 707 616 616 24,935 1,065 3,004
2019 832 104 104 23,177 1,159 2,199
Markus Schäfer3 2020 707 616 616 23,851 1,019 2,958
2019 508 64 64 17,735 887 1,523
Britta Seeger 2020 707 616 616 23,851 1,019 2,958
2019 832 104 104 22,169 1,108 2,148
Hubertus Troska 2020 707 616 616 23,851 1,019 2,958
2019 832 104 104 22,169 1,108 2,148
Harald Wilhelm4 2020 723 629 629 23,851 1,019 3,000
2019 638 80 80 16,627 831 1,629
Bodo Uebber5 2020 - - - - - -
2019 379 47 47 26,502 1,325 1,798
Dr. Dieter Zetsche5 2020 - - - - - -
2019 804 101 101 56,429 2,822 3,828
Total 2020 6,380 5,55 5,55 215,743 9,217 26,711
2019 7,829 7980 7980 266,128 13,305 23,094
1 Taking into account the voluntary agreement on the part of the Board of Management to forgo 20 % of their base salary from April 1 to December 31, 2020.
2 2019: Board of Management remuneration paid as a member until May 21, 2019; as the Chairman from May 22, 2019.
3 2019: Board of Management remuneration paid from May 22, 2019.
4 2019: Board of Management remuneration paid from April 1, 2019. 
5 2019: Board of Management remuneration paid until May 22, 2019.

The granting of non-cash benefits in kind, primarily expenses for security precautions and the provision of company cars, resulted in taxable benefits for the members of the Board of Management in 2020 as shown in table B.53.

B.53 Taxable non-cash benefits and other fringe benefits

2020 2019
In thousands of euros
Ola Källenius1 72 90
Martin Daum 115 120
Renata Jungo Brüngger 96 95
Wilfried Porth 88 87
Markus Schäfer2 96 57
Britta Seeger 86 94
Hubertus Troska3 748 394
Harald Wilhelm4 77 62
Bodo Uebber5 44
Dr. Dieter Zetsche5 65
Total 1,378 1,108
1 2019: Board of Management remuneration paid as a member until May 21, 2019; as the Chairman from May 22, 2019. 2 2019: Board of Management remuneration paid from May 22, 2019.
3 Hubertus Troska’s foreign assignment caused deferred taxable benefits of €366,300 for the previous years. For the fulfillment of disclosure obligations pursuant to Section 285 No. 9a of the German Commercial Code (HGB), the total amount is reduced by €153,814 for the financial year 2020 (2019: €149,366). The corresponding fringe benefits were granted and borne by a subsidiary and are thus not included in the remuneration to be disclosed in the annual financial statements of the parent company, Daimler AG.
4 2019: Board of Management remuneration paid from April 1, 2019.
5 2019: Board of Management remuneration paid until May 22, 2019.

Further details of Board of Management remuneration in 2020

The following tables show for each individual member of the Board of Management on the one hand the benefits granted for the financial year and on the other hand the payments made in or for the reporting year and the retirement pension expense in or for the reporting year in comparison with the prior year. The tables are based on the previous recommendations of Clause 4.2.5 paragraph 3 of the German Corporate Governance Code as amended on February 7, 2017.

The total of “benefits granted” for financial year 2019 is calculated from

  • the base salary in 2019,
  • the taxable non-cash benefits and other fringe benefits in 2019,
  • the half of the annual bonus paid in 2020 for 2019 at the value for target achievement of 100 %,
  • the half of the medium-term annual bonus payable in 2021 for 2019 at the value for target achievement of 100 % (deferral),
  • the value of the long-term share-based remuneration (PPSP) at the time when granted in 2019 (payable in 2023), and
  • the retirement pension expense in 2019 (service costs in 2019).

The total of “benefits granted” for financial year 2020 is calculated from

  • the base salary in 2020,
  • the taxable non-cash benefits and other fringe benefits in 2020,
  • the half of the annual bonus payable in 2021 for 2020 at the value for target achievement of 100 %,
  • the half of the medium-term annual bonus payable in 2022 for 2020 at the value for target achievement of 100 % (deferral),
  • the value of the long-term share-based remuneration (PPSP) at the time when granted in 2020 (payable in 2024), and
  • the retirement pension expense in 2020 (service costs in 2020).

The total of “payments made” for financial year 2019 is calculated from

  • the base salary in 2019,
  • the taxable non-cash benefits and other fringe benefits in 2019,
  • the half of the annual bonus paid in 2020 for 2019 at the value as of the end of the reporting period in financial year 2019,
  • the half of the medium-term annual bonus paid in 2019 for 2017 (deferral),
  • the value of the long-term share-based remuneration (PPSP 2015) paid in 2019,
  • the dividend equivalent of the current PPSP (2016, 2017, 2018 and 2019) paid in 2019, and
  • the retirement pension expense in 2019 (service costs in 2019).

The caps possible to ensure the total maximum amount shown in the table of benefits granted for financial year 2019 are implemented with the payout of PPSP 2019, which constitutes the last payment to be made of the components of remuneration granted in financial year 2019. For financial year 2019, therefore, the possible cap would take place in 2023, the year that PPSP 2019 is paid out.

The total of “payments made” for financial year 2020 is calculated from

  • the base salary in 2020,
  • the taxable non-cash benefits and other fringe benefits in 2020,
  • the half of the annual bonus payable in 2021 for 2020 at the value as of the end of the reporting period,
  • the half of the medium-term annual bonus paid in 2020 for 2018 (deferral),
  • the value of the long-term share-based remuneration (PPSP 2016) paid in 2020,
  • the dividend equivalent of the current PPSP (2017, 2018, 2019 and 2020) paid in 2020, and
  • the retirement pension expense in 2020 (service costs in 2020).

The caps possible to ensure the total maximum amount shown in the table of benefits granted for reporting year 2020 are implemented with the payout of PPSP 2020, Which constitutes the last payment to be made of the components of remuneration granted in financial year 2020. For financial year 2020, therefore, the possible cap would take place in 2024, the year that PPSP 2020 is paid out.

B.54 Benefits granted


Ola Källenius3
Chairman of the Board of Management of Daimler AG/ Mercedes-Benz Cars & Vans


Martin Daum
Daimler Trucks & Buses
Jan. 1 – Dec. 31 Jan. 1 – Dec. 31 Jan. 1 – Dec. 31 Jan. 1 – Dec. 31
2019 2020 min max 2019 2020 min max
In thousands of euros
Base salary1 1,340 1,415 1,415 1,415 832 707 707 707
Taxable non-cash benefits and other fringe benefits 90 72 72 72 120 115 115 115
Total 1,430 1,487 1,487 1,487 952 822 822 822
Annual variable remuneration (50 % of annual bonus, short-term) 670 832 0 1,664 416 416 0 832
Deferral (50 % of annual bonus, medium-term) 670 832 0 1,664 416 416 0 832
Long-term variable remuneration (plan period of 4 years) 1,849 2,038 0 5,500 1,108 1,019 0 2,750
Total 3,189 3,702 0 8,828 1,940 1,851 0 4,414
Retirement pension expense (service costs) 261 520 520 520 250 250 250 250
Total remuneration 4,880 5,709 2,007 10,835 3,142 2,923 1,072 5,486
Total limit2 for components of remuneration granted in the reporting year excluding:
– Taxable non-cash benefits and other fringe benefits
– Retirement pension expense (service costs)
7,878 9,399 5,252 5,252
Maximum total remuneration pursuant to Section 87a Subsection 1 Sentence 2 No. 1 German Stock Corporation Act (AktG) 12,000 7,200
1 Taking into account the voluntary agreement on the part of the Board of Management to forgo 20 % of their base salary from April 1 to December 31, 2020.
2 Total limit = maximum amount of remuneration (cash flow cap)  1.7 times for Ola Källenius (2019: 1.5 times for Dr. Dieter Zetsche) / 1.9 times target remuneration (base salary, target annual bonus, value when granted of PPSP, excluding fringe benefits and retirement pension commitments).

3 2019: Board of Management remuneration paid as a member until May 21, 2019; as the Chairman from May 22, 2019.

Benefits granted

Renata Jungo Brüngger
Integrity & Legal Affairs
Wilfried Porth
HR and Labor Relations Director
Jan. 1 – Dec. 31 Jan. 1 – Dec. 31 Jan. 1 – Dec. 31 Jan. 1 – Dec. 31
2019 2020 min max 2019 2020 min max
In thousands of euros
Base salary1 832 707 707 707 832 707 707 707
Taxable non-cash benefits and other fringe benefits 95 96 96 96 87 88 88 88
Total 927 803 803 803 919 795 795 795
Annual variable remuneration (50% of annual bonus, short-term) 416 416 0 832 416 416 0 832
Deferral (50% of annual bonus, medium-term) 416 416 0 832 416 416 0 832
Long-term variable remuneration (plan period of 4 years) 1,108 1,019 0 2,750 1,159 1,065 0 2,875
Total 1,940 1,851 0 4,414 1,991 1,897 0 4,539
Retirement pension expense (service costs) 254 252 252 252 0 0 0 0
Total remuneration 3,121 2,906 1,055 5,469 2,910 2,692 795 5,334
Total limit2 for components of remuneration granted in the reporting year excluding:
– Taxable non-cash benefits and other fringe benefits
– Retirement pension expense (service costs)
5,252 5,252 5,347 5,347
Maximum total remuneration pursuant to Section 87a Subsection 1 Sentence 2 No. 1 German Stock Corporation Act (AktG) 7,200 7,200
1 Taking into account the voluntary agreement of the Board of Management to forgo 20% of the base salary from April 1 to December 31, 2020.
2 Total limit = maximum amount of remuneration (cash flow cap)  1.7 times for Ola Källenius (2019: 1.5 times for Dr. Dieter Zetsche) / 1.9 times target remuneration (base salary, target annual bonus, value when granted of PPSP, excluding fringe benefits and retirement pension commitments).

Benefits granted

Markus Schäfer
Group Research and Mercedes-Benz Cars Chief Operating Officer
Britta Seeger
Mercedes-Benz Cars Marketing & Sales
May 22 – Dec. 31 Jan. 1 – Dec. 31 Jan. 1 – Dec. 31 Jan. 1 – Dec. 31
2019 2020 min max 2019 2020 min max
In thousands of euros
Base salary1 508 707 707 707 832 707 707 707
Taxable non-cash benefits and other fringe benefits 57 96 96 96 94 86 86 86
Total 565 803 803 803 926 793 793 793
Annual variable remuneration (50% of annual bonus, short-term) 254 416 0 832 416 416 0 832
Deferral (50% of annual bonus, medium-term) 254 416 0 832 416 416 0 832
Long-term variable remuneration (plan period of 4 years) 887 1,019 0 2,750 1,108 1,019 0 2,750
Total 1,395 1,851 0 4,414 1,940 1,851 0 4,414
Retirement pension expense (service costs) 155 254 254 254 254 256 256 256
Total remuneration 2,115 2,908 1,057 5,471 3,120 2,900 1,049 5,463
Total limit2 for components of remuneration granted in the reporting year excluding:
– Taxable non-cash benefits and other fringe benefits– Retirement pension expense (service costs)
3,602 5,252 5,252 5,252
Maximum total remuneration pursuant to Section 87a Subsection 1 Sentence 2 No. 1 German Stock Corporation Act (AktG) 7,200 7,200
1 Taking into account the voluntary agreement on the part of the Board of Management to forgo 20% of their base salary from April 1 to December 31, 2020.2 Total limit = maximum amount of remuneration (cash flow cap)  1.7 times for Ola Källenius (2019: 1.5 times for Dr. Dieter Zetsche) / 1.9 times target remuneration (base salary, target annual bonus, value when granted of PPSP, excluding fringe benefits and retirement pension commitments).

Benefits granted

Hubertus Troska
Greater China
Harald Wilhelm
Finance & Controlling, Daimler Mobility
Jan. 1 – Dec. 31 Jan. 1 – Dec. 31 April 1 – Dec. 31 Jan. 1 – Dec. 31
2019 2020 min max 2019 2020 min max
In thousands of euros
Base salary1 832 707 707 707 638 723 723 723
Taxable non-cash benefits and other fringe benefits 394 748 748 748 62 77 77 77
Total 1,226 1,455 1,455 1,455 700 800 800 800
Annual variable remuneration (50% of annual bonus, short-term) 416 416 0 832 319 425 0 850
Deferral (50% of annual bonus, medium-term) 416 416 0 832 319 425 0 850
Long-term variable remuneration (plan period of 4 years) 1,108 1,019 0 2,750 831 1,019 0 2,750
Total 1,940 1,851 0 4,414 1,469 1,869 0 4,450
Retirement pension expense (service costs) 250 250 250 250 218 291 291 291
Total remuneration 3,416 3,556 1,705 6,119 2,387 2,960 1,091 5,541
Total limit2 for components of remuneration granted in the reporting year excluding: – Taxable non-cash benefits and other fringe benefits – Retirement pension expense (service costs) 5,252 5,252 3,990 5,320
Maximum total remuneration pursuant to Section 87a Subsection 1 Sentence 2 No. 1 German Stock Corporation Act (AktG) 7,200 7,200
1 Taking into account the voluntary agreement on the part of the Board of Management to forgo 20% of their base salary from April 1 to December 31, 2020.
2 Total limit = maximum amount of remuneration (cash flow cap)  1.7 times for Ola Källenius (2019: 1.5 times for Dr. Dieter Zetsche) / 1.9 times target remuneration (base salary, target annual bonus, value when granted of PPSP, excluding fringe benefits and retirement pension commitments).

Benefits granted

Bodo Uebber
Finance & Controlling, Daimler Financial Services
Dr. Dieter Zetsche
Chairman of the Board of Management, Head of Mercedes-Benz Cars
Jan. 1 – May 22 Jan. 1 – Dec. 31 Jan. 1 – May 22 Jan. 1 – Dec. 31
2019 2020 min. max. 2019 2020 min. max.
In thousands of euros
Base salary 379 804
Taxable non-cash benefits and other fringe benefits 44 65
Total 423 869
Annual variable remuneration (50% of annual bonus, short-term) 190 402
Deferral (50% of annual bonus, medium-term) 190 402
Long-term variable remuneration (plan period of 4 years) 1,325 2,822
Total 1,705 3,626
Retirement pension expense (service costs) 362 0
Total remuneration 2,490 4,495
Total limit1 for components of remuneration granted in the reporting year excluding: – Taxable non-cash benefits and other fringe benefits – Retirement pension expense (service costs) 3,940 6,612
Maximum total remuneration pursuant to Section 87a Subsection 1 Sentence 2 No. 1 German Stock Corporation Act (AktG)
1 Total limit = maximum amount of remuneration (cash flow cap)  1.7 times for Ola Källenius (2019: 1.5 times for Dr. Dieter Zetsche) / 1.9 times target remuneration (base salary, target annual bonus, value when granted of PPSP, excluding fringe benefits and retirement pension commitments).

B.55 Payments made

Ola Källenius2
Chairman of the Board of Management of Daimler AG/ Mercedes-Benz Cars & Vans
Martin Daum3
Daimler Trucks & Buses
Jan. 1 – Dec. 31 Jan. 1 – Dec. 31 Jan. 1 – Dec. 31 Jan. 1 – Dec. 31
2019 2020 2019 2020
In thousands of euros
Base salary1 1,340 1,415 832 707
Taxable non-cash benefits and other fringe benefits 90 72 120 115
Total 1,430 1,487 952 822
Annual variable remuneration (50 % of annual bonus, short-term) 168 1,232 104 616
Deferral (50 % of annual bonus, medium-term) 728 242 607 242
Long-term variable remuneration
Payment of PPSP 2015 751 277
Payment of PPSP 2016 565 225
Dividend equivalent PPSP 2016 40 16
Dividend equivalent PPSP 2017 50 8 50 8
Dividend equivalent PPSP 2018 48 13 48 13
Dividend equivalent PPSP 2019 120 33 72 20
Dividend equivalent PPSP 2020 43 21
Total 1,905 2,136 1,174 1,145
Retirement pension expense (service costs) 261 520 250 250
Total remuneration4 3,596 4,143 2,376 2,217
1 Taking into account the voluntary agreement on the part of the Board of Management to forgo 20 % of their base salary from April 1 to December 31, 2020. 
2 2019: Payments as a Board of Management member made up to May 21, 2019; as the Chairman from May 22, 2019. 
3 Payments from the long-term variable remuneration also include amounts granted before the Board of Management membership.
4 Amount actually paid during the financial year: (The difference pertains to the annual variable remuneration paid at the beginning of the following year compared to the non-cash benefits in kind that were not paid out and the retirement pension expense). 3,337 2,487 2,162 1,340

Payments made

Renata Jungo Brüngger2
Integrity & Legal Affairs
Wilfried Porth
HR and Labor Relations Director
Jan. 1 – Dec. 31 Jan. 1 – Dec. 31 Jan. 1 – Dec. 31 Jan. 1 – Dec. 31
2019 2020 2019 2020
In thousands of euros
Base salary1 832 707 832 707
Taxable non-cash benefits and other fringe benefits 95 96 87 88
Total 927 803 919 795
Annual variable remuneration (50% of annual bonus, short-term) 104 616 104 616
Deferral (50% of annual bonus, medium-term) 728 242 728 242
Long-term variable remuneration
Payment of PPSP 2015 120 785
Payment of PPSP 2016 565 591
Dividend equivalent PPSP 2016 40 42
Dividend equivalent PPSP 2017 50 8 52 8
Dividend equivalent PPSP 2018 48 13 51 14
Dividend equivalent PPSP 2019 72 20 75 21
Dividend equivalent PPSP 2020 21 22
Total 1,162 1,485 1,837 1,514
Retirement pension expense (service costs) 254 252 0 0
Total remuneration3 2,343 2,540 2,756 2,309
1 Taking into account the voluntary agreement on the part of the Board of Management to forgo 20% of their base salary from April 1 to December 31, 2020.
2 Payments from the long-term variable remuneration also include amounts granted before the Board of Management membership.
3 Amount actually paid out during the financial year: (The difference pertains to the annual variable remuneration paid at the beginning of the following year compared to the non-cash benefits in kind that were not paid out and the retirement pension expense). 2,150 1,680 2,825 1,709

Payments made

Markus Schäfer2
Group Research and Mercedes-Benz Cars Chief Operating Officer
Britta Seeger2
Mercedes-Benz Cars Marketing & Sales
May 22 – Dec. 31 Jan. 1 – Dec. 31 Jan. 1 – Dec. 31 Jan. 1 – Dec. 31
2019 2020 2019 2020
In thousands of euros
Base salary1 508 707 832 707
Taxable non-cash benefits and other fringe benefits 57 96 94 86
Total 565 803 926 793
Annual variable remuneration (50% of annual bonus, short-term) 64 616 104 616
Deferral (50% of annual bonus, medium-term) 728 242
Long-term variable remuneration
Payment of PPSP 2015 37
Payment of PPSP 2016 185 59
Dividend equivalent PPSP 2016 13 4
Dividend equivalent PPSP 2017 17 3 50 8
Dividend equivalent PPSP 2018 19 5 48 13
Dividend equivalent PPSP 2019 58 16 72 20
Dividend equivalent PPSP 2020 21 21
Total 171 846 1,043 979
Retirement pension expense (service costs) 155 254 254 256
Total remuneration3 891 1,903 2,223 2,028
1 Taking into account the voluntary agreement on the part of the Board of Management to forgo 20% of their base salary from April 1 to December 31, 2020. 
2 Payments from the long-term variable remuneration also include amounts granted before the Board of Management membership.
3 Amount actually paid out during the financial year: (The difference pertains to the annual variable remuneration paid at the beginning of the following year compared to the non-cash benefits in kind that were not paid out and the retirement pension expense). 615 1,001 2,031 1,174

Payments made

Hubertus Troska
Greater China
Harald Wilhelm
Finance & Controlling, Daimler Mobility
Jan. 1 – Dec. 31 Jan. 1 – Dec. 31 April 1 – Dec. 31 Jan. 1 – Dec. 31
2019 2020 2019 2020
In thousands of euros
Base salary1 832 707 638 723
Taxable non-cash benefits and other fringe benefits 394 748 62 77
Total 1,226 1,455 700 800
Annual variable remuneration (50% of annual bonus, short-term) 104 616 80 629
Deferral (50% of annual bonus, medium-term) 728 242
Long-term variable remuneration
Payment of PPSP 2015 751
Payment of PPSP 2016 565
Dividend equivalent PPSP 2016 40
Dividend equivalent PPSP 2017 50 8
Dividend equivalent PPSP 2018 48 13
Dividend equivalent PPSP 2019 72 20 54 15
Dividend equivalent PPSP 2020 21 21
Total 1,793 1,485 134 665
Retirement pension expense (service costs) 250 250 218 291
Total remuneration2 3,269 3,190 1,052 1,756
1 Taking into account the voluntary agreement on the part of the Board of Management to forgo 20% of their base salary from April 1 to December 31, 2020.
2 Amount actually paid out during the financial year: (The difference pertains to the annual variable remuneration paid at the beginning of the following year compared to the non-cash benefits in kind that were not paid out and the retirement pension expense). 2,781 1,680 692 839

Payments made

Bodo Uebber
Finance & Controlling, Daimler Financial Services
Dr. Dieter Zetsche
Chairman of the Board of Management, Head of Mercedes-Benz Cars
Jan. 1 – May 22 Jan. 1 – Dec. 31 Jan. 1 – May 22 Jan. 1 – Dec. 31
2019 2020 2019 2020
In thousands of euros
Base salary 379 804
Taxable non-cash benefits and other fringe benefits 44 65
Total 423 869
Annual variable remuneration (50% of annual bonus, short-term) 47 101
Deferral (50% of annual bonus, medium-term) 848 1,780
Long-term variable remuneration
Payment of PPSP 2015 898 1,877
Payment of PPSP 2016
Dividend equivalent PPSP 2016
Dividend equivalent PPSP 2017
Dividend equivalent PPSP 2018
Dividend equivalent PPSP 2019
Dividend equivalent PPSP 2020
Total 1,793 3,758
Retirement pension expense (service costs) 362 0
Total remuneration1 2,578 4,627
1 Amount actually paid out during the financial year: (The difference pertains to the annual variable remuneration paid at the beginning of the following year compared to the non-cash benefits in kind that were not paid out and the retirement pension expense). 2,679 5,635
Principles of Board of Management remuneration
Commitments upon termination of sevice