Governance Compensation

Compensation

The Group is committed to fair, balanced and performance-based compensation practices that align long-term employee and shareholder interests.

The objectives of the Group’s compensation policy include attracting and retaining employees, and motivating them to achieve results with integrity and fairness. The compensation policy is designed to support a performance culture which fosters teamwork and collaboration. Furthermore, it aims to promote effective risk management practices consistent with the Group’s compliance and control framework. The compensation policy takes into account the capital position and long-term performance of the Group and balances the fixed and variable incentive compensation components to reflect the value and responsibility of the roles that employees perform. The objectives of the compensation policy are framed to achieve an appropriate balance between the interests of employees and shareholders in order to create sustainable value for the Group.

Message from Compensation Committee Chairman

Compensation to the Executive Board 

Compensation payable to the Executive Board members, including the CEO, is proposed by the Board upon recommendation by the Compensation Committee and subject to shareholder approval at the AGM.

For a full description of the compensation for Members of the Executive Board for 2017 and the compensation structure for Members of the Executive Board for 2017, refer to the Annual Report 2017 - Compensation.

Compensation to the Board of Directors

Compensation payable to members of the Board, including the Chairman, is proposed by the Board upon recommendation by the Compensation Committee and subject to shareholder approval at the AGM. 

For a full description of the compensation for Members of the Board of Directors for 2017, refer to the Annual Report 2017 - Compensation.