The definition of the Policy is the result of a clear and transparent process in which the Company’s Remuneration Committee and Board of Directors play a central role. It is, in fact, adopted and approved annually - suggested by the Remuneration Committee - proposed by the Board of Directors, then subjected to the advisory vote at the Shareholders Meeting.
The Board of Statutory Auditors delivers its opinion, in particular, on the part regarding the remuneration of Directors vested with special roles.
The Remuneration Committee, the Board of Statutory Auditors, and the Board of Directors oversee its implementation. To this end, at least once a year, at the presentation of the Remuneration Account, the Senior Advisor on Human Resources and/or the Chief Human Resources Officer report on the Policy to the Remuneration Committee.
The Policy 2015 - which was proposed by the Remuneration Committee and then approved by the Board of Directors, with the favourable opinion of the Board of Statutory Auditors, in the meeting on31 March 2015 - is submitted for the consideration and advisory vote of the Shareholders’ Meeting.
For completeness, we note that, in accordance with the laws in force, it is the responsibility of the Board of Directors to provide for (or, if required by law, propose to the Shareholders’ Meeting) the adoption of incentivisation mechanisms through the award of financial instruments or options on financial instruments, which, if approved, shall be made public, at the latest, in the Annual Remuneration Account (without prejudice to any further transparency obligations required by applicable law). At the date of this Report, the Company has no incentivisation plans through financial instruments.