TESTATA Remuneration of partners

Remuneration of partners

GroupGovernanceRemunaration policy and objectivesRemuneration of partners

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Remuneration of partners

The remuneration policy of the Hera Group

The fundamental principle which underpins the Group's culture and directs its choices is its commitment to combining economic and social value with the ultimate goal of satisfying the legitimate expectations of all stakeholders. Hera seeks to be a business that withstands the test of time and to improve society and the environment for future generations to come.

The sense of responsibility that is the hallmark of its corporate culture and mission translates into an approach to remuneration that is similarly responsible. The remuneration policy was conceived as a factor that contributes to improving corporate performance and the creation of value in the medium to long-term. 

With a view to responsible reward and in keeping with the recommendations contained in Article 6 of the Borsa Italian SpA Code of Conduct, the Board of Directors, with the support of the Remuneration Committee, has therefore defined the remuneration policy for 2019.

Pursuant to paragraph 6 of article 123-ter of the TUF, the meeting is called on to decide on Section I of the Remuneration Report.

The Shareholders' Meeting decides the value of the fees for the Board of Directors.

The remuneration policy for Executive Directors is proposed to the Board of Directors by the Remuneration Committee. The Board of Directors then approves any type of supplementary remuneration.

The CEO proposes policies for Group directors to the Remuneration Committee, which expresses its opinion and presents the policies to the Board of Directors.

This process is supported, as far as the technical aspects are concerned, by the Group Director of Human Resources and Organization, who takes care of the implementation of these policies.

Chairman and CEO remuneration is composed of the fixed and the variable monetary compensation based on the degree of achievement of the targets set in the previous year (more on Balanced scorecard system).
 

 

BoD remuneration in 2019 (€)
 

    FIXED COMPENSATION COMPENSATION FOR PARTICIPATION ON COMMITTEES BONUS
& OTHER INCENTIVES
NON-MONETARY BENEFITS OTHER CONSIDERATIONS TOTAL
Tomaso Tommasi di Vignano Executive chairman
since 01/01/2014
Termination of Assignment: approval of financial results as at 31/12/2019
380,000 - 169,100 11,524 1,824 562,448
Stefano Venier CEO
since 24/04/2014
Termination of Assignment: approval of financial results as at 31/12/2019
383,937 - 540,966 25,249 2,201 952,353
Giovanni Basile Vice President
since 24/04/2014
Termination of Assignment: approval of financial results as at 31/12/2019
85,000 - - 4,233 89,233
Francesca Fiore Director
since 27/05/2017
Termination of Assignment: approval of financial results as at 31/12/2019
40,000 20,000 - 468 - 60,468
Giorgia Gagliardi Director
since 24/04/2014
Termination of Assignment: approval of financial results as at 31/12/2019
40,000 20,000 - 308 - 60,308
Massimo Giusti Director
since 24/04/2014
Termination of Assignment: approval of financial results as at 31/12/2019
40,000 20,000 - 545 - 60,545
Sara Lorenzon Director
since 27/04/2017
Termination of Assignment: approval of financial results as at 31/12/2019
40,000 20,000 - 308 - 60,308
Stefano Manara Director
since 01/01/2014
Termination of Assignment: approval of financial results as at 31/12/2019
40,000 20,000 - 518 - 60,518
Danilo Manfredi Director
since 24/04/2014
Termination of Assignment: approval of financial results as at 31/12/2019
40,000 20,000 - 413 - 60,413
Alessandro Melcarne Director
since 08/11/2017
Termination of Assignment: approval of financial results as at 31/12/2019
40,000 20,000 - 305 - 60,305
Erwin P. W. Rauhe Director
since 27/04/2017
Termination of Assignment: approval of financial results as at 31/12/2019
40,000 20,000 - 932 - 60,932
Duccio Regoli Director
since 27/04/2017
Termination of Assignment: approval of financial results as at 31/12/2019
40,000 20,000 - 776 - 60,766
Federica Seganti Director
since 27/04/2017
Termination of Assignment: approval of financial results as at 31/12/2019
40,000 20,000 - 496 - 60,496
Marina Vignola Director
since 27/04/2017
Termination of Assignment: approval of financial results as at 31/12/2019
40,000 20,000 - 404 - 60,404
Giovanni Xilo Director
since 27/04/2017
Termination of Assignment: approval of financial results as at 31/12/2019
40,000 20,000 - 776 - 60,776

 

POSITION COMPENSATION EUROS COMPOSITION OF THE COMPENSATION PACKAGE
Executive Chairman Annual gross salary 380,000

 

Maximum target RGA 554,800
Maximum target RDA 554,800
Maximum target RDA + Maximum social incentive plan 563,920
CEO Annual gross salary 380,000

 

 

Maximum target RGA 554,800
Maximum target RDA 681,467
Maximum target RDA + Social incentive plan

690,972


Page updated 28 April 2020

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