Objectives | Results | Objective achievement level | Amount of target variable compensation | Amount of variable compensation to be paid |
|---|---|---|---|---|
Organic growth | Organic growth Results Growth of -6.3% > Commitment adopted in May 2020 | Organic growth Objective achievement level Achieved | Organic growth Amount of target variable compensation €126,000 | Organic growth Amount of variable compensation to be paid €126,000 |
Operating margin | Operating margin Results With an operating margin of 16%, Publicis Groupe is number one in its peer group. | Operating margin Objective achievement level Achieved | Operating margin Amount of target variable compensation €126,000 | Operating margin Amount of variable compensation to be paid €126,000 |
Objectives | Results | Objective achievement level | Amount of target variable compensation | Amount of variable compensation to be paid |
|---|---|---|---|---|
Management and execution of the savings plan | Management and execution of the savings plan Results More aggressive savings plan decided after the start of the Covid-19 crisis than planned in the initial Commitments. The target was exceeded. | Management and execution of the savings plan Objective achievement level Achieved | Management and execution of the savings plan Amount of target variable compensation €126,000 | Management and execution of the savings plan Amount of variable compensation to be paid €126,000 |
Cash flow management | Cash flow management Results The targets were exceeded. | Cash flow management Objective achievement level Achieved | Cash flow management Amount of target variable compensation €126,000 | Cash flow management Amount of variable compensation to be paid €126,000 |
Employee expenses | Employee expenses Results -0.9% compared to the Commitment (annual budget). | Employee expenses Objective achievement level Partially achieved | Employee expenses Amount of target variable compensation €126,000 | Employee expenses Amount of variable compensation to be paid €63,000 |
“All in One” real estate program | “All in One” real estate program Results The targets were exceeded. | “All in One” real estate program Objective achievement level Achieved | “All in One” real estate program Amount of target variable compensation €126,000 | “All in One” real estate program Amount of variable compensation to be paid €126,000 |
CSR criteria | CSR criteria Results Rate of 40.4% in the most significant Executive Committees. Percentage of renewable energy in the energy mix grew by 6.9%. | CSR criteria Objective achievement level Achieved | CSR criteria Amount of target variable compensation €84,000 | CSR criteria Amount of variable compensation to be paid €84,000 |
Total (financial and non-financial criteria) | Total (financial and non-financial criteria) Results
| Total (financial and non-financial criteria) Objective achievement level
| Total (financial and non-financial criteria) Amount of target variable compensation
| Total (financial and non-financial criteria) Amount of variable compensation to be paid €777,000 |
Total awarded | Total awarded Results
| Total awarded Objective achievement level
| Total awarded Amount of target variable compensation
| Total awarded Amount of variable compensation to be paid €777,000 |
On the proposal of the Compensation Committee, the Supervisory Board approved the partial payment of 92.5% of the target variable compensation of Jean-Michel Etienne, in light of the almost complete achievement of the objectives detailed above, and which is amply justified in view of the attainment of the objectives assigned and achieved on account of the Covid-19 crisis, in accordance with Section 3.2.2.3 of this document (i.e. his ability to manage the crisis by 1. taking care of the health and safety of the Groupe’s employees, 2. maintaining smooth operations, 3. protecting revenue and the client portfolios, 4. rigorously managing costs, and 5. taking appropriate measures for the strict management of resources and the protection of the Groupe’s assets).
The full achievement of the additional crisis management objectives enabled the Groupe to perform well above the industry average, which allowed it to both reimburse employees for salary reductions and increase the variable compensation package of employees (or teams) in order to fairly reward team performance.
In accordance with article L. 22-10-34, II of the French Commercial Code, the General Shareholders’ Meeting must vote on the variable and extraordinary items of total compensation and benefits of any kind paid during the past financial year or awarded for that financial year by means of a separate resolution for each member of the Management Board.
The General Shareholders’ Meeting of May 26, 2021 will thus be asked to vote on the items of compensation paid or awarded in respect of the 2020 financial year to Anne-Gabrielle Heilbronner, member of the Management Board, as set out below. These elements comply with the compensation policy for members of the Management Board for the financial year 2020 presented in Section 3.2.1.4 of the Publicis Groupe SA 2019 Universal Registration Document, as approved by the General Shareholders’ Meeting of May 27, 2020 in its ninth resolution. Given the strong approval of items of compensation at the previous General Shareholders’ Meeting, the items of compensation paid or awarded in respect of the 2020 financial year are in line with those paid or awarded in respect of the 2019 financial year.
