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 6 March 2019.
Remuneration Policy 2019
Document approved by the ERG S.p.A. Board of Directors on 6 March 2019
Remuneration Report 2019
Pursuant to Article 123-ter of Legislative Decree no. 58 dated 24 February 1998
(published on March 25, 2019)
2019 Shareholders' Meeting 
1 The variable remuneration referred to the company target will not be paid out, for the reference year, regardless of the corporate performances recorded,
if there was a fatal accident involving a Group employee or an accident causing a level of permanent disability greater or equal to 46%.
2 As Executive Directors with a strategic importance for the purposes of the achievement of the 2018-2022 Business Plan.
3 Press release issued on 8 March 2018 in the context of the presentation to the Market of the 2018-2022 Business Plan.

Source: 2019 ERG Remuneration Report
Pay for performance

Last year, ERG rewarded its Shareholders with total dividends of approximately EUR 171 million and a share performance that exceeded 54.21% the FTSE All Share average.

This was made possible by the positive conclusion of the industrial transformation process of the Group, by the mergers and acquisitions completed and by the growth strategy adopted by the ERG Group and implicit in 2018-2022 Business Plan approved by the Group last year.

Performance ERG Share vs FTSE Italy All Share FY 2018
 
Sustainibility Indicators

ERG believes that the full compatibility of its activities with the health and safety of the workers and the safeguard of communities, 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 ensuring that all Companies of the ERG Group operate with the highest respect for the health and safety of employees and third parties, as well as for the environment, defined in its broadest sense4. Consistently with the provisions of the Code of Ethics of the ERG Group, a sustainability clause based on workplace accidents has been added to the MBO System.

Sustainability Clause 2019
 
4 Code of Ethics of the ERG Group, 2018 version
5 No. accidents*1,000,000/worked hours
6 No. days lost*1,000/worked hours