Compensation
of the Board of Directors and
the Executive Management
The compensation shown reflects the expenditure recognised in the income statement during the reporting year (irrespective of the dates on which these were paid). Included among the active members of the Board of Directors and the Executive Management are those individuals who completed their period of tenure during the year. Compensation was paid to two former members of the Executive Management whose notice periods extended into the reporting year. Compensation is lower because the previous year included the one-off effect from the introduction of LTIs.
Total compensation paid to the Board of Directors
and the Executive Management (audited)
in CHF 000 | Board of Directors 1 | Executive Management | Total |
2025 | |||
Number of members as of balance sheet date | 7.0 | 5.0 | 12.0 |
Annual average number of members | 7.0 2 | 5.0 3 | 12.0 |
Fees / basic salaries | 2’169 | 2’969 | 5’138 |
Variable compensations (STI and LTI) | – | 1’229 | 1’229 |
Employee Carry lncentive Plan (ECIP) | – | – | – |
Pension and social security contributions | 235 | 877 | 1’112 |
Expense reimbursements | 112 | 146 | 257 |
Non-monetary benefits | – | 13 | 13 |
Other compensation | – | – | – |
Total | 2’515 | 5’234 | 7’749 |
2024 | |||
Number of members as of balance sheet date | 7.0 | 6.0 | 13.0 |
Annual average number of members | 7.0 2 | 4.5 3 | 11.5 |
Fees / basic salaries | 2’208 | 1’693 | 3’901 |
Variable compensations (STI and LTI) | – | 1’020 | 1’020 |
Extraordinary LTI 4 | – | 1’117 | 1’117 |
Employee Carry lncentive Plan (ECIP) | – | – | – |
Pension and social security contributions | 233 | 569 | 802 |
Expense reimbursements | 111 | 91 | 202 |
Non-monetary benefits | – | 55 | 55 |
Other compensation | – | – | – |
Total | 2’552 | 4’545 | 7’096 |
1The Board of Directors currently comprises the full-time Chairman / publisher and non-executive members.
2The following joiners and leavers are relevant for determining the annual average number of members: – Martin Kall until 11 April 2025 – Miriam Meckel from 11 April 2025 – No changes in 2024
3The following joiners and leavers are relevant for the determination of the annual average number of members: – No changes in 2025 – Sandro Macciacchini until 30 September 2024 – Ursula Nötzli until 30 September 2024 – Bernhard Brechbühl from 1 October 2024 – Christoph Marty from 1 October 2024 – Jessica Peppel-Schulz from 1 October 2024 – Tanja zu Waldeck from 1 October 2024
4Management profit participation was initially reduced for participants who have previously not taken part in the profit participation programme. The 2024 allocation was also subject to ambitious targets with targets for 2026 and 2027 respectively. Hence, the Board of Directors decided to offer an extraordinary LTI for the 2024 financial year.
Compensation paid to the Board of Directors (audited)
in CHF 000 | Fees / basic salaries 1 | Variable compensations 2 | Pension and social security contributions | Expense reimbursements | Non-monetary benefits and other compensation | Total |
2025 | ||||||
Pietro Supino | 1’564 | – | 220 | 39 | – | 1’822 |
Martin Kall | 33 | – | – | 4 | – | 37 |
Pascale Bruderer | 100 | – | – | 12 | – | 112 |
Stephanie Caspar | 100 | – | – | 12 | – | 112 |
Claudia Coninx-Kaczynski | 100 | – | 7 | 12 | – | 119 |
Miriam Meckel | 72 | – | – | 9 | – | 81 |
Sverre Munck | 100 | – | – | 12 | – | 112 |
Konstantin Richter | 100 | – | 7 | 12 | – | 119 |
Total | 2’169 | – | 235 | 112 | – | 2’515 |
2024 | ||||||
Pietro Supino 3 | 1’607 | – | 218 | 39 | – | 1’865 |
Martin Kall | 100 | – | – | 12 | – | 112 |
Pascale Bruderer | 100 | – | – | 12 | – | 112 |
Stephanie Caspar | 100 | – | – | 12 | – | 112 |
Claudia Coninx-Kaczynski | 100 | – | 7 | 12 | – | 119 |
Sverre Munck | 100 | – | – | 12 | – | 112 |
Konstantin Richter | 100 | – | 7 | 12 | – | 119 |
Total | 2’208 | – | 233 | 111 | – | 2’552 |
1The functions of the members of the Board of Directors are disclosed in the corporate governance section.
2Includes profit participation for managers, Long Term Incentive and Employee Carry Incentive Plan.
3 Includes an additional one-off payment based on a contractual agreement.
Additional fees and compensation (audited)
In the reporting year, TX Group paid no compensation to companies over which members of the Board of Directors or the Executive Management have a significant influence.
Other functions of members of the Board of Directors outside TX Group (audited)
Pietro Supino |
|
Pascale Bruderer |
|
Stephanie Caspar |
|
Claudia Coninx-Kaczynski |
|
Miriam Meckel |
|
Sverre Munck |
|
Konstantin Richter |
|
Shares held by members of the Board of Directors (audited)
2025 | 2024 | |||
number | Shares owned | Total shares owned including those held by related parties 1 | Shares owned | Total shares owned including those held by related parties 1 |
Pietro Supino | 33’338 | 1’439’160 | 33’338 | 1’439’160 |
Martin Kall | – | – | – | – |
Pascale Bruderer | – | – | – | – |
Stephanie Caspar | – | – | – | – |
Claudia Coninx-Kaczynski | 393’508 | 1’264’867 | 393’533 | 1’264’867 |
Miriam Meckel | – | – | – | – |
Sverre Munck | – | – | – | – |
Konstantin Richter | 28’229 | 738’295 | 28’229 | 737’795 |
1Including rights of usufruct and benefits.
Compensation paid to the Executive Management (audited)
Fees / basic salaries | Variable compensations 1 | Extraordinary LTI | Pension and social security contributions | Expense reimbursements | Non-monetary benefits and other compensation | Total | |
2025 2 | |||||||
Total compensation of the Executive Management / former Members | 2’969 | 1’229 | – | 877 | 146 | 13 | 5’234 |
of which highest compensation: Tanja zu Waldeck | 550 | 331 | – | 173 | 23 | 7 | 1’083 |
of which compensation of former Members | 681 | 8 | – | 159 | 15 | – | 863 |
2024 2 | |||||||
Total compensation of the Executive Management / Group Management 3 | 1’693 | 1’020 | 1’117 | 569 | 91 | 55 | 4’545 |
of which highest compensation: Sandro Macciacchini 3 | 561 | 389 | – | 175 | 19 | – | 1’145 |
1Includes profit participation for managers, Long Term Incentive and Employee Carry Incentive Plan.
2For the determination of the annual average number of members, entries and exits are the relevant criteria: – No changes in 2025 – Sandro Macciacchini until 30 September 2024; thereafter considered as a former member – Ursula Nötzli until 30 September 2024, thereafter considered as a former member – Bernhard Brechbühl from 1 October 2024 – Christoph Marty from 1 October 2024 – Jessica Peppel-Schulz from 1. October 2024 – Tanja zu Waldeck from 1 October 2024
3Includes CHF 250,000 in non-competition compensation for six months following termination of employment.
Share-based component of Executive Management profit participation (audited)
number | 2025 | 2024 |
As of 1 January | – | 2’039 |
Entitlements of former members of Executive Management no longer considered | – | -2’039 |
Exercised | – | – |
Allocated | – | – |
As of 31 December | – | – |
of which exercisable | – | – |
in CHF / number of shares | Allocation date | Blocked until | Fair value as of grant date | Fair value as of balance sheet date | Outstanding entitlements 2025 | Outstanding entitlements 2024 |
31.12.2022 | 31.12.2025 | 149.4 | – | – | – | |
31.12.2023 | 31.12.2026 | 119.6 | – | – | – | |
31.12.2024 | 31.12.2027 | – | – | – | – |
Other functions of members of the Executive Management outside TX Group (audited)
Bernhard Brechbühl |
|
Christoph Marty |
|
Daniel Mönch |
|
Jessica Peppel-Schulz |
|
Tanja zu Waldeck |
|
Shares held by members of the Executive Management (audited)
2025 | 2024 | |||
Number of shares | Shares owned | Total shares owned including those held by related parties | Shares owned | Total shares owned including those held by related parties |
Bernhard Brechbühl | – | – | – | – |
Sandro Macciacchini | – | – | 2’248 | 2’248 |
Christoph Marty | – | – | – | – |
Daniel Mönch | 100 | 100 | 100 | 100 |
Ursula Nötzli | – | – | – | 400 |
Jessica Peppel-Schulz | – | – | – | – |
Tanja zu Waldeck | – | – | – | – |