The aggregate compensation of the members of the Board of Management in 2014 totaled €15,648 thousand (2013: €13,563 thousand), comprising €4,561 thousand (2013: €3,956 thousand) in non-performance-related components and €11,087 thousand (2013: €9,607 thousand) in performance-related components. The pension service cost amounted to €1,385 thousand (2013: €1,271 thousand).
The following changes in the membership of the Board of Management or the terms of office of the members occurred in 2014:
The Chairman of the Board of Management, Dr. Marijn Dekkers, extended his contract by two years until December 31, 2016, upon the expiration of his initial five-year term of office.
Effective February 1, 2014, Kemal Malik was appointed to the Board of Management of Bayer AG. Effective April 30, 2014, he succeeded Prof. Wolfgang Plischke, who retired as of midnight on April 29, 2014.
By resolution of the Supervisory Board, Werner Baumann, previously Chief Financial Officer (cfo), was appointed Chief Strategy and Portfolio Officer (cspo) effective October 1, 2014. Werner Baumann’s current contract runs until December 31, 2017.
Johannes Dietsch, previously Senior Bayer Representative and cfo for Greater China, based in Shanghai, was appointed to the Board of Management of Bayer AG effective September 1, 2014. He assumed the office of Chief Financial Officer effective October 1, 2014.
The following table shows the total compensation of the individual members of the Board of Management who served in 2013 and/or 2014 according to the German Commercial Code: