On one side our corporate governance system is characterised by the remuneration of the company bodies established by the Shareholders' Meetings, on the other side it is focused on the themes of remuneration for directors who hold particular Office and for the Group’s top management by means of a purpose made advisory committee, the Committee for nominations and remuneration. This committee is composed of non-executive directors who are, for the most part, independent of the Group and of which at least one advisor is selected from a list of minorities.
The Committee is tasked with the functions of advising and making proposals to the Board of Directors in regards to:
- remuneration of directors holding particular office, in order to ensure alignment with the objective of creating value for shareholders over time;
- periodic assessments of the criteria for the remuneration of senior management of the company and on the adoption, on the advice of the managing directors, of any stock option plans or assignment of shares;
- monitoring of the implementation of the decisions taken and corporate policy regarding compensation of top management.
For these purposes, the Committee examines the market trends and evolution of the rules of remuneration policies in order to identify a remuneration structure consistent with the best practices, competitive and functional loyalty and motivation schemes for managerial resources which have been identified as critical for the Group.