Higher bonuses scrapped at DSM

Chemicals company DSM announced on Monday evening it is to drop plans to increase bonuses for management board members.

The company had intended to raise the maximum pay-out on options from 100% to 150% coupled with a no bonus clause if DSM did less well than its competitors. The pay-out on options will now stay at between 25% and 100%.
A DSM spokesman told the Telegraaf that restructuring the bonus system had been scrapped because of the current public discussion on executive incomes.
DSM will set out a new bonus policy at its annual meeting in 2010.
See too: Union furious at DSM boss pay rise

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