Corporate Governance

Hero : Corporate Governance

The German Corporate Governance Code represents essential statutory regulations for the management and supervision of German listed companies. It also contains internationally recognized standards of good and responsible corporate management. The Supervisory Board and Executive Board of FRoSTA AG are committed to a responsible, transparent corporate management and control aimed at increasing value. We understand corporate governance as an ongoing process to improve management and control taking into account new experiences and regulations as well as evolving national and international standards.

Executive Board

Members of FRoSTA AG’s Executive Board are

Felix Ahlers

Chairman

Hinnerk Ehlers

Board Member Marketing and Sales

Maik Busse

Board Member Finance and Controlling, IT,  Supply Chain and Operations

Boards f.l.t.r. : Hinnerk Ehlers, Maik Busse, Felix Ahlers.

Supervisory Board

Volker Kuhn (Chairman)

Businessman, Geneva/Switzerland

Dirk Ahlers (Deputy Chairman)

Businessman, Hamburg

Torsten Richter (Employee Representative)

Employee at ELBTAL Tiefkühlkost, Zweigniederlassung der FRoSTA AG, Lommatzsch

Remuneration of Executive and Supervisory Board members

The total remuneration of the Executive Board paid for the financial year 2019 amounted to kEUR 2,140.1 (2018: kEUR 3,057.1). Of this the fixed remuneration came to kEUR 1,009.0 (2018: kEUR 1,087.1) and variable remuneration kEUR 1,131.1 (2018: kEUR 1,970.0).

The total remuneration of former members of the Executive Board was kEUR 45 in the financial year 2019 (2018: kEUR 56). Pension reserves for former Executive Board members amounted to kEUR 0 on the balance sheet date (2018: kEUR 392).

The remuneration of the Supervisory Board amounted to kEUR 120. Of that, kEUR 30 were variable and kEUR 90 fixed payments. The remuneration of the previous year at kEUR 119 comprised variable payments of kEUR 29 and fixed payments of kEUR 90.

Risk policy

FRoSTA AG’s strategy is based on the fundamental considerations of value-based management. For our risk policy, this means that the company is ready to take entrepreneurial risks, provided that the business activities initiated and the resulting additional earnings opportunities result in an increase in the company’s value. Under the risk management system, entrepreneurial risks are to be weighed up by comparing opportunities and threats. 

Increasing returns through the introduction of our new product line can be seen as a significant value driver for increasing the company’s value in the next five years. 

FRoSTA AG’s risk policy is based on the basic position that the risk coverage potential available to the company – in particular equity – at least corresponds to the existing aggregate risk scope. An external rating of BBB+ is aimed for. The company itself will bear core entrepreneurial risks, in particular the risks from the market (e.g. fluctuations in demand). 

The core risks also include risks from the development of new products. All risks not belonging to these core areas of activity of the company, the marginal risks such as currency, liability or property damage risks the company tends to transfer to third parties.