APC 2013 Annual Report Download - page 152

3CORPORATE GOVERNANCE
INTERESTS AND COMPENSATION OF GROUP SENIOR MANAGEMENT
Compensation and performance shares for executive directors
The compensation of executive directors was set by the board of directors on April25, 2013 and February19, 2014 on the
supervisory board on December18, 2012 and February20, 2013 proposal of its remuneration Committee.
on recommendation by its remuneration Committee, and by the
Mr. Jean-Pascal Tricoire, Chairman and CEO/Chairman of the management board (1)
Year 2013
Fixed part
For 25%, a component comprising criteria that are in line
–
with the Connect Company program and social and
The supervisory board has set the total fixed annual compensation
environmental responsibility, evaluated among other things
for 2013 for Jean-Pascal Tricoire, Chairman of the management
through customer satisfaction, solutions development and
board, at EUR 900,000.
trends in the Planet & Society Barometer.
Individual objectives for 30%: individual performance is rated
2.
On April 25, 2013, the board of directors increased, as of April 25,
based on specific objectives including Connect program,
2013, Mr. Tricoire’s fixed compensation from EUR 900,000, which
new governance, Group scope, etc., with the other
it had set in 2011, to EUR 950,000 from April 26, 2013, to bring
objectives being kept confidential as the competition would
his fixed compensation more in alignment with the market both for
be interested in knowing them.
CEOs of CAC40 companies and for CEOs of international
companies (US and European) in the Group’s business segment At its meeting of April 25, 2013, the board of directors applied,
based on a panel of companies. without changes, the same definition of the variable part to Mr.
Tricoire’s compensation for 2013.
Variable part
On the proposal of the Remuneration, Human Resources and CSR
The supervisory board has set the variable part target at 110% of Committee, on February 19, 2014, the board of directors approved
fixed compensation. The variable part can range from 0% to 220% as 2013 variable part EUR 1,443,072 paid in March 2014. It set
of fixed compensation. the variable part at 154.5% of his 2013 fixed compensation (EUR
The supervisory board has set the criteria of the performance 934,028). The breakdown of the variable part is as follows:
incentives, as well as the weight of these criteria and targets for
2013:
Group criteria for 70%, including:1.
For 45%, a Group economic criteria component. These
–
criteria are based on organic sales growth, adjusted EBITA
and cash generation targets;
Variable part Variable part
Criteria / Objectives Weight Amounttarget achieved
Group 77% 70% 88.5% 826,615 €
Individual 33% 30% 66% 616,457 €
TOTAL 110% 100% 154.5% 1,443,072 €
Mr. Tricoire has been Chairman of the Management Board until April 25, 2013, date of the approval of the change of governance.(1)
150 2013 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC