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ITEN

Remuneration

Remuneration

Snam is committed to a remuneration system that aligns with international best practices, complies with national and European legislation, and supports Snam’s ability to meet growth objectives

Snam’s remuneration system, overseen by the Compensation Committee , recognises the responsibilities held, results achieved and quality of professional commitment of Snam executives. The system upholds the principles of maximising individual potential and ensuring equal opportunity. These are principles of the Code of Ethics and have always been present in Snam’s organisational culture.
 
Snam’s remuneration system is viewed as a primary instrument to attract, retain and motivate managers with strong professional skills that can manage Snam successfully. It ensures that their actions align with shareholder interests and promote value creation in the medium-to-long term.
 

At the Shareholders’ Meetings in 2012-2016 votes cast in support of the first section of the Remuneration Report were more than 90% in favour, among the most favourable of a sample of Italian listed companies. This demonstrates that shareholders agree with the Snam Board’s remuneration approach.

Overall agreements
Minority agreements

Remuneration Report

The 2017 Remuneration Report describes in full:

  • governance aspects important to define and implement the Remuneration Policy
  • aims and principles followed by Snam in its approach to director and management remuneration
  • Remuneration Policy guidelines adopted in 2017.

The Remuneration Report also presents information on operations in 2016 in line with the Remuneration Policy set out in the previous report.

Read the Remuneration Report.

The board and responsibilities for remuneration policy

The remuneration policy for Snam’s board members is defined in accordance with statutory and regulatory provisions.

The Shareholders'Meeting: 

  • decides on the pay of members of the Board of Directors, at the time of appointment and for the entire term of office
  • resolves, at the proposal of the Board of Directors, on pay plans based on the allocation of financial instruments
  • takes a non-binding vote on the first section of the Remuneration Report.

The board of Directors:

  • decides, on a proposal from the Remuneration Committee and having listened to the opinion of the Board of Statutory Auditors, the remuneration of Directors vested with specific duties and the remuneration for being on board committees
  • defines the remuneration policy for directors, general managers and executives with strategic responsibilities of the Company and its Subsidiaries, as well as the relevant compensation systems, upon recommendation from the Remuneration Committee
  • defines the remuneration of the Internal Audit Manager consistent with the Company’s remuneration policies after checking with the Remuneration Committee
  • implements the compensation plans based on shares or financial instruments resolved upon by the Shareholders’ Meeting
  • approves the Remuneration Report to be presented to the Shareholders’ Meeting
  • assesses, following consultation with the Remuneration Committee, the contents of the vote on the Remuneration Report carried out by the Shareholders’ Meeting and the proposals of them Committee on the adequacy, overall coherence and application of the Remuneration Policy adopted for Directors and Managers with strategic responsibilities.
 
Compensation Committee

Learn about the members of the Compensation Committee

Read more
Snam’s management team

Meet Snam’s management team

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stock and financial instruments

See all insider transactions on Snam stock and financial instruments

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Page Alert
updated
12 July 2017 - 10:52 CEST