DSM turns executive bonuses green
Dutch life sciences group DSM announced that half the bonuses for its management board will be tied to targets such as the reduction of greenhouse gas emissions and energy use, the introduction of environmentally friendly products and improvements in workforce morale.
Feike Sijbesma, chief executive, said DSM would focus on “the triple bottom line: people, profits, planet”.
Sijbesma, whose pay was €1.5m in 2008, told the Financial Times: “Sustainability is the key driver of our whole strategy. Remuneration is one of the ultimate expressions of your values.”
The supervisory board at DSM – which makes chemicals, nutritional supplements and plastics and had sales of €9bn last year – consulted widely and is optimistic the proposal will pass at next month’s annual meeting.
DSM’s proposal relates only to remuneration of the management board with the goal of eventually raising pay – which currently lags behind rivals – close to the median of European competitors.
Strong Q4 ending
DSM ends 2009 with solid Q4 and very strong cash generation
- Q4 operating profit from continuing operations € 141 million in line with Q3 2009
- Life Sciences performance reflects robust Nutrition business
- Materials Sciences recovery remains on track
- Full year operating profit from continuing operations € 370 million
- Full year cash flow from operating activities very strong at € 1,276 million
- Solid financial position − dividend maintained at € 1.20 in cash
- No quantitative outlook provided for 2010.
More information on company performance can be found at the DSM website.
