Remuneration for the Directors has been determined by the Shareholders’ Meeting as a fixed amount of 10,000 euro per Director (15,000 euro for the Chairman).
The Board of Directors, upon proposal by the Remuneration and Appointments Committee, and approval by the Board of Statutory Auditors, has also defined the remuneration for the office of Chairman, equal to a total of 500,000 euro per year, and for the CEO, equal to a total of 1,100,000 euro per year.
The Board of Directors has defined additional remuneration for the members of the Control and Risks Committee, the Remuneration and Appointments Committee and the Supervisory and Oversight Body.
The total remuneration amounts for the executive directors also include a variable portion linked to the economic results achieved by the company (MBO).
The executive directors are also beneficiaries of the Performance Share plan, whose implementation is conditional on the pursuit of specific, annual economic-financial performance objectives. Non-executive directors are not beneficiaries of the Performance Share plan. There are no incentive plans based on stock options.
The table below indicates the remuneration paid to members of the Board of Directors in 2017.