Purposes and general principles

FAIRNESS AND CONSISTENCYBalanced remuneration packages based on one’s position, responsibilities, expertise and proven abilities;Consistent approach in the various countries/businesses/functions.
ALIGNMENT WITH BUSINESS STRATEGIESStructured 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.
COMPETITIVENESSOngoing 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 PERFORMANCEBonuses 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 COMPLIANCETransparent governance;Remuneration guidelines that are consistent with national/international practices and the group’s values.