The multi-utility is confirmed as one of the businesses where employees enjoy the best working conditions.
Sustainability Report 2011
Maurizio Chiarini (Chief Executive Officer of Hera Group) presents Sustainability Report
The remuneration of directors is determined by the Shareholders’ meeting.
In 2011, total remuneration paid amounted to EURO 2,301,435 €.
| Emolument for the office | Emoluments for cometees attendance | Bonus & other incentives | Non-monetary benefis | Other considerations | |||
|---|---|---|---|---|---|---|---|
| T. Tommasi di Vignano | Chairman | 350,000 | - | 117,600 | 6,046 | 2,190 | |
| M. Chiarini | C.E.O. | 353,110 | - | 119,361 | 8,022 | 37,750 | |
| G. Razzoli | Vice chaiman | 106,667 | - | - | 4,608 | - | |
| M. Bernardini | Director | 75,000 | 8,333 | - | - | - | |
| F. Brandolini | Director | 83,333 | - | - | 3,513 | 1,812 | |
| L. Castagna | Director | 83,333 | - | - | 1,453 | - | |
| P. G. Dolcini | Director | 75,000 | - | - | 2,880 | - | |
| R Sacchetti | Director | 83,333 | - | - | 3,618 | 1,470 | |
| B. Tani | Director | 58,333 | 16,667 | - | - | - | |
| N. Montanari | Director | 33,333 | 16,667 | - | 4,460 | 728 | |
| V. Fantini | Director | 50,000 | - | - | - | - | |
| R. Saoncella | Director | 33,333 | 16,667 | - | 298 | - | |
| M. Roda | Director | 50,000 | - | - | 495 | - | |
| L. Mandrioli | Director | 33,333 | 16,667 | - | 338 | - | |
| E. Giovannetti | Director | 50,000 | - | - | 719 | - | |
| M. Cammelli | Director | 33,333 | 16,667 | - | 1,070 | - | |
| G. Tonelli | Director | 50,000 | - | - | 477 | - | |
| Directors no longer in office after the B.o.D. renewal, approved by the shareholders' meeting of 29 April 2011 | |||||||
| M. Cavallini | Director | 25,000 | - | - | 236 | - | |
| P. Collina | Director | 16,667 | 8,333 | - | 1,500 | - | |
| F. Giovannelli | Director | 25,00 | - | - | 339 | - | |
| L. Maggioli | Director | 16,667 | 8,333 | - | 312 | - | |
| A. Marri | Director | 25,000 | - | - | 312 | - | |
| F. Sutti | Director | 25,000 | - | - | - | - | |
| S. Zolea | Director | 25,000 | 8,333 | - | - | ||
| D. Montroni | Director | 16,667 | 8,333 | - | 205 | - | |
| P. Trombetti | Director | 16.667 | 8,333 | - | 619 | - | |
The Chairman and C.E.O. receive remuneration comprising a fixed amount and a variable amount which is linked to company results (Balanced scorecard system).
The Shareholders’ meeting then assigned the members of the Board fixed annual remuneration, which is supplemented by expense reimbursement and an increase for any roles held in the internal committees.
Hera Top management remuneration
In 2011, an analysis of the remuneration paid to key managers operating in the multi-utilities Italian sector shows that the ratio between the amount received by Hera top managers and net profit is approximately 1.45% versus a negative ratio of other Italian local utilities.
| (mln€) | Hera | Average sector* |
|---|---|---|
| Net profit 2011 | 126.8 | (109.0) |
| 2011 key managers remuneration | 1.84 | 0.60 |
| Top management remuneration/Net profit | 1.45% | n/a |
*Average sector includes: Hera, A2A, Acea, Acegas, Acsm, Ascopiave, Iren
Source: analysis on 2011 Annual reports
Page updated 16 May 2012
V.le Carlo Berti Pichat nr. 2/4
40127 Bologna
tel. 051 287111 - fax 051 287525
Paid-up Share Capital € 1,115,013,754
Revenue Code/VAT reg. no. and Bologna Registry of Companies
no. 04245520376
