Remuneration

The remuneration of our people is defined in line with the market and with what established by the National Collective Bargaining Agreements and Supplementary Company Agreements or local laws. Our benefit offer also includes complementary pension schemes, insurance coverage for health and disabilities, welfare programmes and discounts on insurance products.

The members of the Group Management Committee, the other executives with key responsibilities and the members of the Global Leadership Group receive an overall remuneration package consisting of a fixed component, benefits and a variable component partly related to sustainability aspects. More specifically, with a view to strengthening the leadership model and in compliance with the Group strategy, two Leadership behaviour in action objectives were introduced during 2016. They weighted overall up to 30% of the individual performance and were based on the managerial assessment of results and on evidence related to leadership on customer centricity and people empowerment skills.

€ 3,870 mln employee expenses

 

Responsible remuneration and incentives