APC 2014 Annual Report Download - page 300

8SHAREHOLDERS’ MEETING
REPORT OF THE BOARD OF DIRECTORS TO THE COMBINED ORDINARY AND EXTRAORDINARY SHAREHOLDERS’ MEETING
Jean-Pascal Tricoire, Chairman and Chief Executive Officer
I– Elements of compensation due or awarded for the year
Amounts submitted to the vote Description
1) Fixed portion EUR950,000 Gross annual fixed compensation of EUR950,000 from January1, 2014 to
December31, 2014 set by the board of directors on February19, 2014.
2) Annual variable EUR1,500,000 The target variable portion is 120% of the fixed compensation. The variable
portion portion of the compensation of Mr.Tricoire may vary from 0 to 240%
depending on the achievement of objectives. The target variable portion was
110% in 2013 and has thus increased to strengthen:
the variability of the total compensation of Mr.Tricoire in relation to the
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company's performance, in particular following the significant extension of
the Schneider Electric perimeter with the acquisition of Invensys; and
the positioning of Mr.Tricoire in relation to the market of senior executives
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in companies of the CAC40, in addition to the market of senior executives
of international companies (American and European) in the Group's
sector of activity defined by a panel.
The board of directors, on February18, 2015, set the 2014 variable portion
paid in March2015 at 157.9% of the fixed portion.
This achievement is broken down as follows:
1) in connection with Group criteria (70%), the variable portion amounted to
94.4% of the fixed portion;
The Group criteria included:
a Group economic criteria component. These criteria are based on
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organic sales growth (15%), adjusted EBITA (15%) and cash generation
targets (15%);
a component comprising criteria that are in line with the Connect
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company program and corporate social responsibility (25%), evaluated
among other things through customer satisfaction, solutions
development, the succession plan for key talent, and trends in the Planet
& Society Barometer;
2) with respect to individual objectives (30%), which are specific objectives
and, where possible, quantified, the board set the variable portion at 63.5%
of the fixed portion after verifying that the objectives had been achieved and
surpassed.
3) Performance shares EUR1,002,780 for 18,000 These 18,000 performance shares were granted under the France plan to
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performance shares according Jean-Pascal Tricoire, in his capacity as Chairman of the board of directors
to the IFRSvaluation of Schneider Electric SE.
EUR2,167,200 for 42,000 These 42,000 performance shares were granted under the International
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performance shares according plan to Jean-Pascal Tricoire in his capacity as Executive Director of
to the IFRSvaluation Schneider Electric Asia Pacific.
298 2014 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC