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Compensation of Executive Corporate Officers

The Executive Corporate Officers compensation policy is consistent with the Company’s interests and contributes to the Company’s sustainable success.

Aligned with best practices and determined according to clear and quantifiable criteria, the compensation policy for the Chief Executive Officer includes incentives that reflect the Group’s strategic focus on long-term sustainable growth, with variable and long-term compensation linked in part to CSR criteria.
 
The Chief Executive Officer’s compensation policy seeks a balance between short-term and long-term performance to ensure the sustainable development of the Company and aims for alignment between the Chief Executive Officer’s compensation and the Company’s performance.

2022 annual compensation target structure of the Chief Executive Officer

CEO 20% Fixed compensation 30% Variable compensation 50% Performance shares
Financial and indivisual performance objectives set by the board of directors for the CEO for 2022 : 60% Financial objectives - 40% Personal objectives including 50% quantifiable

In compliance with the Say on Pay rules, the compensation policy and the compensation of Executive Corporate Officers paid during the fiscal year or granted in respect of the fiscal year then ended is presented to the Shareholders’ Meeting for an annual vote.

Further information

2021 Performance shares grant

2020 Performance shares grant