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TOP CONTENT

The drivers of our remuneration policy

Sustainability is deeply rooted into our business model, our action plans are aimed at generating positive contributions to major global challenges: a growing portfolio of products enabling the energy transition towards renewable sources, technologies and solutions facilitating such transition that allow clean energy to be carried from wind and solar farms to power grids, optical fiber supporting digitalization and economy dematerialization with the related decarbonization effects.

Key evidence
 

 

A portion of the annual incentive is linked to the achievement of an ESG goal that is common to all Group management. The sustainability objective is articulated both on internal performance indicators and on Prysmian's positioning in three sustainability indices. The assessment of the performance achieved is carried out by the Remuneration and Nomination Committee. In particular, in formulating the evaluation of the performance achieved for 2020, the Committee will adopt a reference framework that includes the elements briefly described below. 

Management variable remuneration, short and long-term (MBO and LTI), has a direct and verifiable link between pre-set performance targets, results achieved and remuneration paid.

CEO Pay mix
 

 

Comparison of the CEO MBO paid out and the evolution of the company performance, measured by the adjusted EBITDA, over the last five years.

 

We take into consideration the negative vote expressed by the shareholders. In particular, with the 2020 remuneration policy, we acted on the feedback received from some shareholders in relation to the greater weight to be reserved for non-financial performance indicators relating to sustainability.

CEO pay ratio

With the aim of being transparent towards our stakeholders, we disclose the relationship between the fixed and total remuneration (fixed remuneration plus variable remuneration) received during 2019 by the Chief Executive Officer, compared to the average remuneration of our employees globally in the world.

Our employees, thanks to the Employee Share Ownership Plan YES – Your Employee Shares – and through long-term incentive plans, which since 2011 are based on company shares, are stable shareholders of the Group. This long-term engagement of our people allows us to align the interests of shareholders, management and employees towards the common goal of creating sustainable value over time and it supports the values of our corporate culture: TRUST, DRIVE and SIMPLICITY.  

Fees paid to Board Members and to Managers with Strategic Responsibilities in 2019 (Figures in EUR)

Full Name & Office Fixed Pay Fees for participation in Committees Variable non-equity pay Non-monetary benefits Total
Claudio De Conto - Chairman
130.000(*1)
20.000
-
-
150.000
Valerio Battista - CEO and GM
1.100.000
-
943.800
5.421
2.049.221
Massimo Battaini - Executive Director
894.500(*2)
-
595.700
64.646(*3)
1.554.846
Pier Francesco Facchini - Executive Director
590.000
-
379.370
3.548
972.918
Fabio Romeo - Executive Director
601.709
-
371.856
3.971
977.537
Paolo Amato - Director
50.000
20.000
-
-
70.000
Joyce Victoria Bigio - Director
50.000
20.000
-
-
70.000
Maria Elena Cappello - Director
50.000
-
-
-
50.000
Monica De Virgillis - Director
50.000
20.000
-
-
70.000
Francesco Gori - Director
50.000
20.000
-
-
70.000
Mimi Kung - Director
50.000
-
-
-
50.000
Maria Letizia Mariani - Director
50.000
20.000
-
-
70.000
Pellegrino Libroia - Chairman of the Board of Statutory Auditors
75.000
-
-
-
75.000
Laura Gualtieri - Statutory Auditor
50.000
-
-
-
50.000
Paolo Lazzati - Statutory Auditor
78.000
-
-
-
78.000
Managers with Strategic Responsibilities - 4 people
2.376.760(*4)
-
1.563.127
225.983(*5)
4.165.870

Notes

(*1)Of which 50.000 Euro as a Director and 80.000 Euro as Chairman of the Board of Directors
(*2)Of which 700.000 Euro as annual base salary, 89.500 Euro as expatriation allowance and 105.000 Euro as fee for non competition agreement
(*3)Includes benefits part of the expatriation package (schooling/housing allowance)
(*4)Of which 2.225.296 Euro as annual base salary, 80.002 Euro as expatriation allowance and 71.462 Euro as fee for non competition agreement
(*5)Includes benefits part of the expatriation package

Participation of members of the management and control bodies and General Managers

Full name & Office Investee company Number of shares owned at the end of the previous financial year Number of shares assigned (1) Number of shares sold Number of shares owned at the end of the current financial year
Claudio De Conto - Chairman of the Board of Directors
-
-
-
-
Valerio Battista - CEO and General Manager
Prysmian S.p.A.
4.074.4343
748
-
4.075.182
Massimo Battaini (2) - Director
Prysmian S.p.A.
240.838
-
-
240.838
Pier Francesco Facchini - Director
Prysmian S.p.A.
285.527
-
-
285.527
Fabio Romeo - Director
Prysmian S.p.A.
268.174
748
-
268.922
Paolo Amato - Director
-
-
-
-
Joyce Victoria Bigio - Director
Prysmian S.p.A.
500
-
500
-
Maria Elena Cappello - Director
-
-
-
-
Monica De Virgillis - Director
-
-
-
-
Francesco Gori - Director
-
-
-
-
Mimi Kung - Director
-
-
-
-
Maria Letizia Mariani - Director
-
-
-
-
Pellegrino Libroia - Chairman of the Board of Statutory Auditors
-
-
-
-
Laura Gualtieri - Standing Auditor
-
-
-
-
Paolo Lazzati - Standing Auditor
-
-
-
-
Claudia Mezzabotta - Alternate Auditor
-
-
-
-
Michele Milano - Alternate Auditor
-
-
-
-

Notes

(1)These also include the shares assigned as part of the share-based participation plans.
(2)Shares partly held directly and partly held indirectly through his spouse.

Participation of other managers with strategic responsibilities

Number of managers with strategic responsibilities Investee company Number of shares owned at the end of the previous financial year Number of shares assigned (1) Number of shares sold Number of shares owned at the end of the current financial year
4
Prysmian S.p.A.
325.997
1.670
338
327.329

Notes

(1)These also include the shares assigned as part of the share-based participation plans.