The Remuneration Policy adopted by IGD is a function of the Company’s sustainable success and takes into account the need to attract, retain and motivate the people who possess the expertise and professional standing that the role held requires.
More in detail, the remuneration of the Chief Executive Officer, Directors holding special offices, the Chief Operating Officer and the Managers with Strategic Responsibilities aims to:
For the other Directors, the Remuneration Policy takes into account the commitment required by each of them and their participation, if any, in one or more committees and it is not linked in any way to the economic results achieved by IGD.
During the Ordinary Annual General Meeting shareholders approved the first section of the Report on Remuneration and the Compensation Paid, already approved by the Board of Directors held on 25 February 2021, concerning IGD’s policy with respect to the compensation of the members of the Board of Directors, the Board of Statutory Auditors and executives with strategic responsibilities for 2021.
During the Ordinary Annual General Meeting shareholders also resolved in favor of the second section of the Report on Remuneration and the Compensation Paid, which contains information about the compensation paid to the members of the Board of Directors, the Board of Statutory Auditors and executives with strategic responsibilities (shown as an aggregate) in 2020 or related to same; this section is subject to the non-binding resolution of the ordinary Shareholders’ Meeting.
The Chairman’s remuneration is not tied to the Company’s economic results and, therefore, is comprised solely of a fixed component made up of:
The Vice Chairman’s remuneration is not tied to the Company’s economic results and, therefore, is comprised solely of a fixed component made up of:
CHIEF EXECUTIVE OFFICER
The remuneration of the Chief Executive Officer is made up of:
1. A fixed component made up as follows:
2. A variable component, linked to achieving certain performance targets by IGD, made up as follows:
CHIEF OPERATING OFFICER AND MANAGERS WITH STRATEGIC RESPONSIBILITIES
The Remuneration Policy for the Chief Operating Officer and the Managers with Strategic Responsibilities (Director of Administration and Legal and Corporate Affairs, the Director of the
Asset Management, Development and Network Management, the Director of Finance Division, and the Director of Planning, Control and Investor Relations) is made up as follows:
Each year the Nominations and Compensation Committee must verify if the performance targets have been reached or not subsequent to the date on which the Company’s Board of Directors has approved the draft separate and consolidated financial statements for the year. The results of this verification, which is typically carried out in April of the following year, will be approved by the Board of Directors during the next meeting held. Each year the Nominations and Compensation Committee must also verify if the three-year performance targets have been reached or not subsequent to the date on which the Company’s Board of Directors has approved the draft separate and consolidated financial statements for 2021.
The payment of the variable component will be deferred for an appropriate period of time with respect to its vesting. IGD’s practice is to pay the variable compensation at the end of the first six month period subsequent to the end of the vesting period.
The Company does not have any share based incentive plans (stock options).
|Name||Role||Fixed compensation||Compensation for participation in committees||Bonuses and other incentives||Non-cash benefits||Total|
Board of Directors
|Claudio Albertini||Chief Executive Officer||€320,000||-||€150,000||-||€470,000|
|Rossella Saoncella||Vice Chairman,Director and|
Chairman of the CNC
|Luca Dondi Dall'Orologio||Director,|
member of the RCC and
Chairman of the RPC
|Elisabetta Gualandri||Director and|
Chairman of the RCC
|Sergio Lugaresi||Director and|
member of the RCC
|Gian Maria Menabò||Director||€20,000||-||-||-||€20,000|
|Livia Salvini||Director and|
member of the CNC and RPC
|Timothy Guy Michele Santini||Director and member of the CNC||€20,000||€3,750||-||-||€23,750|
|Eric Jean Veron||Director and|
member of the RPC
|Isabella Landi||Director and member of RCC||€3,114||€1,245||-||-||€4,360|
Board of Statutory Auditors
|Anna Maria Allievi||Chairman||€30,000||-||-||-||€30,000|
|Roberto Chiusoli||Standing Auditor||€20,000||-||-||-||€20,000|
|Daniela Preite||Standing Auditor||€20,000||-||-||-||€20,000|
|Chief Operating Officer||€190,522||-||€28,035||€20,529||€239,086|
Managers with strategic responsibilities (No. 4)