After the approval of the 2019-2023 business plan, in November 2019, the Board of Directors approved the long-term incentive plan for Mediobanca’s CEO and General Manager and the CEO of Compass and CheBanca!.
As established in the remuneration policies, the amount of the bonus will range from 20% to 40% of their gross annual base salary for each year of the plan. It will vest upon achievement of the quantitative and qualitative/non-financial targets established in the individual scorecards, subject to the annual cap of 200% on the ratio of performance-based pay to base salary. The definitive amount will be calculated at the end of the plan.
Qualitative CSR indicators are a key aspect of the long-term incentive plan.
|Corporate Social Responsability Targets (Global Goals SDG UN)||Average hours training up 25%||- 5% / + 7.5% quantitative financial results|
|AM: 100% of new investments selected using ESG and financial criteria
€700m to be invested in outstanding Italian SMEs
30% increase in ESG products in clients’ portfolios
|€4m per annum for projects with positive social/environmental impact|
CheBanca! CSI in core segments @73, NPS @25
Compass: CSI @85, NPS @55
92% from renewable resources
CO2 emissions to be cut by 15%
hybrid cars @90% of MB fleet
CheBanca! green mortgages up 50%
In accordance with the disclosure requirements of article 84-bis of Consob regulation 11971/99 (the Issuers Regulation), it is noted that a maximum of 338,841 Mediobanca performance shares have been allocated to the beneficiaries of the long-term incentive plan, to be granted in the five years following the calculation of the long-term incentives on the basis of the plan approved by the shareholders at the general meeting.