The remuneration policy reflects and supports the group’s standards and medium-long term strategy, within an approach aimed at value creation and sustainability of results, maintaining a strong focus and commitment vis-à-vis all stakeholders.
The guidelines of our remuneration policy are defined according to the following principles:
The following elements are always taken as reference for the definition of the remuneration policy:
How remuneration policy is defined in Acea
The retribution system is the result of a clear, transparent process, involving remuneration policy proposals put forward by the Appointments and Remuneration Committee and their approval by the Board of Directors. The interaction between these two bodies facilitates policy consistency, avoiding the occurrence of conflict of interest situations and ensuring transparency thanks to the availability of adequate information.
The Annual General Meeting can establish a fixed fee for members of the BoD for the entire duration of their mandate. It also decides for or against (non-binding decision pursuant to Art. 123-ter, para. 6, of the Italian Consolidated Finance Act) the remuneration policy, as explained and disseminated via the Remuneration Report.
The Acea Group does not offer employees stock options as part of its reward policy.
It should also be noted that the new 2021-23 Long Term Incentive Plan shows Earnings Per Share (EPS) as this is one of the indicators most commonly used on financial markets to compare company performance and the potential of stock investments. The EPS indicates the profitability associated with the individual share, whether or not the profitability translates into dividends or is retained by the company to fund development.
To discover the components of the remuneration assigned to directors and managing directors, please see the following table: Remuneration paid to the members of the administration and control bodies, general managers and other executives with strategic responsibilities