Wilo Executive Board waives 50% of its remuneration

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26.03.2020

The Corona pandemic shows that although there are hundreds of states and thousands of regions, there only is one society. This is why the Chairman and CEO of the Wilo Group, Oliver Hermes, is calling for the Corona crisis to be tackled within the company through discipline, objectivity and modesty, but above all with helpfulness and cordiality.

In a sign of solidarity, the Executive Board of WILO SE has decided to waive 50% of its variable remuneration this year. The Executive Board will donate these amounts to a Wilo solidarity fund set up specifically for this purpose. "This fund is intended to particularly benefit those professional groups in the Wilo workforce who are exposed to particular risks in the Corona crisis", explains Oliver Hermes.

Dr. E.h. Jochen Opländer, shareholder and Honorary Chairman of the Supervisory Board of WILO SE and founder of the Wilo Foundation, also welcomes the decision and declares his willingness to participate in the Wilo solidarity fund together with his family by giving a generous donation.

In addition, WILO SE will make further financial resources available to the global solidarity fund and give management staff the opportunity to make their contribution.

At the same time, the shareholders of Wilo SE, whose majority shareholder is the Wilo Foundation, have agreed to leave about 80% of the dividend in the company this year and to distribute the rest over a longer period.

"The shareholders of Wilo SE are thus sending a strong signal in difficult times and demonstrating their flexibility and solidarity in the midst of the Corona crisis," says Wilo Chairman Oliver Hermes, who has held the position of Chairman of the Board of Trustees of the Wilo Foundation since April 2019.