Skip to main content

FLSmidth allocates performance shares

Published by , Assistant Editor
World Cement,


On 2 March the Board of Directors for FLSmidth & Co. A/S allocated performance shares to the Executive Management and key staff (140 persons in total).

The maximum number of performance shares allocated is 177 790, of which 34 142 pertain to Executive Management. The vesting period is three years, and vesting will depend on fulfilment of stretched financial targets. The applicable financial targets are EBITA margin and net working capital ratio, calculated as three-year averages.

The cost of the programme is DKK 44 million in case of full vesting, based on the average closing share price from 12 – 18 February 2016.

Primarily, the purpose of the programme is to retain key staff and to align the interests of shareholders and participants by rewarding performance in accordance with the long-term strategy and financial targets.

So as to simplify and align the management structure, the officially registered Executive Management of FLSmidth will in future consist of the CEO and CFO only. In practice however, the Group Executive Management Team will remain unchanged and consist of the present eight Group Executive Vice Presidents, including the CEO and CFO.


Adapted from press release by

Read the article online at: https://www.worldcement.com/europe-cis/03032016/flsmidth-allocates-performance-shares-613/

You might also like

The World Cement Podcast - CleanTech & Venture Capital

Our guest for this episode of the World Cement Podcast is Alfredo Carrato, Venture Capital Advisor for CEMEX Ventures. Listen in to the conversation as World Cement's Senior Editor, David Bizley, and Alfredo discuss the role of venture capital and cleantech in enabling the cement industry's green transition.

Tune in to the World Cement Podcast on your favourite podcast app today.

Apple Podcasts  Spotify Podcasts  YouTube

 
 

Embed article link: (copy the HTML code below):