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
At the Shareholders’ Meetings in 2014-2017 votes cast in support of the first section of the Remuneration Report were among the most favourable of a sample of Italian listed companies. This demonstrates that shareholders agree with the Snam Board’s remuneration approach.
Shareholders' meeting - votes in favour: avarage 2014-2017
Shareholders' meeting - minority interest - votes in favour: avarage 2014-2017
The 2018 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 2018.
The Remuneration Report also presents information on operations in 2017 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.
- 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
- approves in accordance with company policies and with the favorable opinion of the Control and Risk Committee and Related Party Transactions, as well as the Board of Statutory Auditors, the fixed and variable remuneration of the Internal Audit Manager consistent with the Company's remuneration policies. The proposal is also subject to consideration by 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.
18 April 2018 - 10:47 CEST