Directors' remuneration

Directors' remuneration is determined, for each financial year, by the Ordinary General Shareholders'Meeting called to approve year-end financial statements. The Shareholders' Meeting also determines the fee for the independent directors called to serve on the Nominations and Remuneration Committee or of the Control and Risk Committee.

For members of the Board of Directors, the General Manager and the other Managers with strategic responsibilities please refer to the Remuneration Report approved by the ERG S.p.A. Board of Directors on 9 March 2017.
2017 Remuneration Policy
Document approved by the ERG S.p.A. Board of Directors on 9 March 2017
Relazione sulla Remunerazione 2017
Pursuant to Article 123-ter of Legislative Decree no. 58 dated 24 February 1998
(published on March 30, 2017)
2017 Shareholders' Meeting 

Guidelines of the 2017 Remuneration Policy

Guidelines of the 2017 Remuneration Policy

Pay for Performance (ref. Policy 3.1.3)

Pay for Performance (ref. Policy 3.1.3)
In the period April 2012 – December 2016, ERG rewarded its Shareholders with dividends for a total of €495.9 million, with a TSR equal to 123%, thanks to the growth strategy adopted by the ERG Group and the extraordinary transactions that have made it possible3.
3 For these transactions, the Remuneration Policy also envisages the possibility of awarding non-recurring remuneration (ref. Policy Par. 3.1.3).

Sustainability indicators (ref. Policy 2017 3.2.1)

Sustainability indicators (ref. Policy 2017 3.2.1)
ERG believes that the full compatibility of its activities with the health and safety of the workers, the community, the natural resources and the environment is an essential requirement to make its plants and operations acceptable and to achieve its growth objectives.

Therefore, ERG is committed to ensure that all Companies of the ERG Group operate with the highest respect for the health and safety of employees and of third parties, as well as for the environment, defined in the broadest sense4.

Consistently with the provisions of the Code of Ethics of the ERG Group, a sustainability clause based on workplace accidents was associated to the *MBO System.
4 Code of Ethics of the ERG Group, approved by the Board of Directors on 14 May 2014.
(Source: ERG 2017 Remuneration Report)