In accordance with the Group’s business and sustainability strategy, the remuneration policy was developed over a multi-year time frame with a strong focus on long-term value creation, and it combines financial and non-financial objectives, within a scenario of healthy and prudent management of current and future risks.
Starting from 2018, the remuneration strategy - included within the broader People Strategy of the Group - is an integral part of the Deliver 2022 Strategic Plan.
All remuneration elements, such as fixed remuneration, benefits and short and medium-term incentive schemes, were developed organically, based on principles of reasonableness, fairness and transparency, whilst ensuring adequate levels of competitiveness aimed at attracting the best resources on the market and motivating and retaining key competencies.
The Deliver 2022 Strategic Plan integrated the Environmental, Social and Governance (ESG) objectives into the business strategy, confirming the focus on value creation for all stakeholders.
The Group’s strategic vision is based on solid business fundamentals that stem from listening to all stakeholders. The remuneration policies support pursuit of the business objectives, and the key performance indicators are set at challenging levels whereby their achievement ensures self-financing of the incentive schemes.