Purposes and general principlesES

FAIRNESS AND CONSISTENCY  Balanced remuneration packages based on one’s position, responsibilities, expertise and proven abilities;
 Consistent approach in the various countries/businesses/functions.
ALIGNMENT WITH BUSINESS STRATEGIES  Structured incentive systems linked to the achievement of sustainable results for the group;
 Definition of individual objectives to maintain sustainable levels of performance in terms of results and risks.
COMPETITIVENESS  Ongoing analysis of peers’ remuneration practices and general market trends;
 Competitive salaries in terms of amount and composition;
 Alignment with the business strategy and goals.
REWARDING MERIT AND PERFORMANCE  Bonuses based on performance, distinction and selectivity;
 Close link between remuneration and group results;
 Fixed and variable remuneration seen as a key driver for motivating and retaining employees and for aligning performance with group objectives.
GOVERNANCE AND COMPLIANCE  Transparent governance;
 Remuneration guidelines that are consistent with national/international practices and the group’s values.