Lufthansa Group cuts executive pension contributions on contract renewals
Lufthansa Group has reduced the company pension contributions for three board members whose contracts were extended, a spokesperson confirmed, following shareholder criticism of executive retirement benefits.
Lufthansa Group cut its pension contributions for three executive board members when it renewed their contracts. A spokesperson for the group confirmed that contributions for Grazia Vittadini, Till Streichert and Dieter Vranckx were reduced to 30 percent of base salary.
The supervisory board had recently extended the contracts of all three. The spokesperson said the lower contribution level was applied at the time of their reappointment.
The move follows shareholder criticism of what they considered comparatively generous retirement benefits for executives. Lufthansa did not provide figures for the previous contribution level.
Sources
- aerotelegraph.comLufthansa Group senkt Altersversorgung von Vorständen