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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.

Hereinbelow the  votes cast in support of the first section of the Report on the Remuneration Policy and the remuneration paid in 2020 (hereinafter also “Remuneration Report”) at the Shareholders’ Meeting of the 18th June 2020.

Generally, the votes casted at the Shareholders’ Meetings in 2016-2020 resulted positive, achieving on average more than 80% of favorable votes, also considering separately the minority interest votes.

 

SNAM SHAREHOLDERS' MEETING VOTES: 2020 AND 2016-2020 AVERAGE

 

 SNAM SHAREHOLDERS' MEETING VOTES - MINORITY INTEREST: 2020 AND 2016-2020 AVERAGE

 

 

Remuneration Report

The 2020 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 2020.

The Remuneration Report also presents information on operations in 2019 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: 

  • determines the remuneration of Board Members 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;
  • expresses, by binding vote, an opinion on the first section of the Remuneration Report and, by non-binding vote, a opinion on the second section;

The Board of Directors:

  • on the recommendation of the Remuneration Committee, and having consulted with the Board of Auditors, determines the remuneration of the Directors assigned specific duties and for participations in Board Committees;
  • after examining the proposals made by the Remuneration Committee, defines the remuneration policy for Directors, Auditors, General Managers and Managers with Strategic Responsibilities of the Company and its subsidiaries, as well as the relevant remuneration systems;
  • after checking with the Control, Risk and Related Parties Transactions Committee, having consulted the Board of Auditors and after obtaining the necessary opinion from the Remuneration Committee, determines the fixed and variable remuneration of the Head of Internal Audit, in keeping with the Company's remuneration policies;
  • it 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, after obtaining the necessary opinion from the Remuneration Committee and with reference to both the first and second sections, the contents of the vote on the Remuneration Report carried out by the Shareholders’ Meeting and the proposals of the 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

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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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updated
25 August 2020 - 11:27 CEST