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Poste Italiane’s remuneration policies are designed to attract, motivate and retain high calibre professionals and management personnel capable of contributing to the achievement of the primary goals of delivering sustainable results over time and creating value for stakeholders.

In order to drive achievement of Poste’s short and medium/long-term objectives, the changes introduced in the Remuneration Policy for 2019 are driven by the following interlinked principles:

The remuneration policies are also structured to guarantee an adequate balance between fixed and variable components and, with regard to variable components, between short-term and medium long-term components, in order to ensure equilibrium between such components and the implementation of conduct in line with the sustainable performance of the Group.
Variable remuneration is directly linked to Company and individual performance, and is based on objective, transparent and verifiable criteria. Variable pay is capped depending on the category of beneficiary. With a view to ensuring sustainability and the creation of value over the short, medium and long-term, variable pay consist of the following components:

The remuneration of non-executive Directors, in accordance with the recommendations of the Corporate Governance Code, is linked with the commitment required of each of them, also taking into account their respective participation in one or more committees established within the Board of Directors.
The policy is described in Section I of the Remuneration Report approved by the Poste Italiane Board of Directors , upon proposal by the Remuneration Committee. This report, pursuant to article 123-ter of Legislative Decree No. 58/1998, is made available to the public and submitted to the Shareholders' meeting for a consultative vote.
For the remuneration and incentive plans for personnel under BancoPosta’s Ring-Fenced Capital, described in the Annex “Guidelines for BancoPosta RFC’s remuneration and incentive policies”, the resolution of the shareholders' meeting is binding.
In line with the applicable regulatory requirements, the information on compensation paid to specific categories of personnel are provided by name or in the aggregate. Moreover the General Meeting of Shareholders is responsible for approving equity-based plans described in the format of the Information Circular prepared in accordance with Art. 84-bis of the Regulations for Issuers.
In particular, the new “Performance Share LTIP” enables the Company to maintain an ongoing link between variable remuneration and performance over the medium to long-term, strengthening the alignment with investors’ interests, also given that the new Plan results in the award of Poste Italiane’s ordinary shares.

Last update: May 28, 2019

© Poste Italiane 2019 - VAT registration number: 01114601006

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