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31 Related parties
Related parties are members of the Board of Directors and the Executive Board or close members of
that person’s family, pension funds, associated companies as well as companies controlled by
significant shareholders. At December 31, 2016, Artemis Beteiligungen I Ltd, Hergiswil, Switzerland,
Centinox Holding Ltd, Hergiswil, Switzerland, and Michael Pieper held 20.29% (2015: 20.28%)
of the shares of the Company and PCS Holding Ltd, Warth-Weiningen, Switzerland, and Peter Spuhler
held 17.18% (2015: 17.18%) of the shares of the Company.
The following transactions were carried out with related parties:
CHF million
2016
2015
Fees paid to the law firm of the Chairman of the Board of Directors
0.1
0.1
Total
0.1
0.1
The total remuneration to the Board of Directors and to the Group Executive Board was as follows:
CHF million
2016
2015
Short-term benefits
4.9
5.3
Share-based payments
2.5
2.1
Post-employment benefits
0.1
0.2
Total
7.5
7.6
The compensation of the Board of Directors and of the Group Executive Board is disclosed in the
Remuneration Report on pages 116–119. Members of the Group Executive Board can deposit part of
their cash remuneration as a receivable due from Autoneum Management Ltd. The interest rate
of these deposits is in line with market conditions.
Year-end balances were as follows:
CHF million
31.12.2016 31.12.2015
Bonus accruals for Group Executive Board
2.4
2.2
Liabilities due to Group Executive Board
–
0.1
Total
2.4
2.3
32 Net debt
CHF million
31.12.2016 31.12.2015
Cash and cash equivalents
–149.8
–78.7
Time deposits with original maturities between 3 and 12 months
–1.5
–
Marketable securities
–
–0.1
Borrowings
208.7
184.9
Net debt
57.4
106.1
109
Autoneum
Financial Report 2016
Consolidated Financial Statements