Annual remuneration of executive and non-executive directors
The goal of the compensation and benefits policy for (executive and non-executive) directors is the attraction and retention of qualified directors with the required background and experience in terms of the various elements of corporate policy. To achieve this goal, the compensation and benefits policy is market competitive and takes into account the company’s size and complexity using reference data where possible.
Non-executive directors and executive directors in their capacity as directors receive only a fixed remuneration as compensation for their membership of the board of directors and their attendance at the board meetings and the meetings of the committees of which they are members.
The level of directors’ remuneration is determined taking into account their role as a normal director, their specific roles as chairman of the board, chair or member of a committee, as well as the resulting responsibilities and time demands.
The chairman of the board of directors and the managing director were granted a fixed remuneration of EUR 100,000. Each other board member receives a fixed remuneration of EUR 10,000, plus a fee per board meeting of EUR 2,500; members of board committees (the audit committee and the appointments and remuneration committee) receive an additional fee per meeting of EUR 2,500, the chairman of the audit committee an additional EUR 5,000 fee per meeting of this committee. No remuneration is granted for board meetings by telephone.
The chairman of the board of directors is granted separate remuneration of EUR 187,121.52 as a member of the executive management committee. As compensation for PR activities and participations as a representative of Roularta Media Group to boards of directors and events, executive director Alauda NV is granted a fixed annual remuneration of EUR 50,000.
The directors (executive and non-executive) receive no performance-related remuneration such as bonuses, long-term incentive programmes, benefits in kind or pension plans. Nor are options or warrants allotted to non-executive directors. There are no contributions to pensions or similar benefits for directors.
The directors’ remuneration policy will not be changed in the two coming financial years.
Directors’ remuneration 2018
|Rik De Nolf
Chairman of the board of directors
permanent representative of Comm.VA Koinon - Managing Director
Chairman Audit Committee - Member appointments and remuneration committee
|Non-executive & independent||
|Lieve Claeys||Non-executive||€ 10,000.00||€ 12,500.00|
permanent representative of NV Verana
|Non-executive||€ 10,000.00||€ 12,500.00|
|Francis De Nolf
permanent representative of NV Alauda
|Executive||€ 10,000.00||€ 12,500.00|
permanent representative of NV Invest at Value - member audit committee - Member appointments and remuneration committee
|Non-executive & independent||€ 10,000.00||€ 22,500.00|
|Prof. Caroline Pauwels PD||Non-executive & independent||€ 10,000.00||€ 10,000.00|