Compensation approval
The table below shows the role of the Compensation Committee in approving compensation.
| Download |
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Decision on |
Proposed |
Reviewed/Endorsed |
Approved |
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Total amount for API payments |
Compensation Committee |
Chairman of the Board of Directors |
Board of Directors |
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Total amount for long-term incentive plans |
Compensation Committee |
|
Board of Directors |
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|
Remuneration of the members of the Board of Directors1 |
Compensation Committee, Chairman of the Board of Directors |
|
Board of Directors |
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|
Compensation of the Group CEO |
Compensation Committee, Chairman of the Board of Directors |
|
Board of Directors |
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|
Individual compensation of the members of the Group EC (excluding Group CEO) |
Group CEO |
Chairman of the Board of Directors |
Compensation Committee |
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These authority levels will change with the implementation of the Ordinance, considering that the shareholders will approve the aggregate compensation of the members of the Board of Directors and the Group EC through a binding vote, starting at the Annual General Meeting in 2015.