2020 Annual Financial Report

Chapter 3 : Governance and compensation

Annual variable compensation to be paid in 2021 for financial year 2020

The variable compensation of Anne-Gabrielle Heilbronner, which, if targets are met, may represent up to 100% of her fixed compensation, without exceeding this percentage, is based on:

  • two criteria linked to the Groupe’s financial performance, each counting equally, for 30% of the variable compensation:
  • organic growth based on the Commitment submitted to the Supervisory Board, and
  • operating margin compared to a peer group;
  • five individual quantifiable non-financial criteria, in line with main areas of responsibility, accounting for 70% of variable compensation:
  • internal audit and control (15%): quality of execution and achievement of objectives (including follow-up),
  • procurement (15%): reduction of purchasing costs,
  • human resources (10%): roll out of the HRIS platform such as to enable the Marcel platform to operate,
  • legal (15%): performance and operational quality of Legal Department, and
  • CSR (15%): 40% women on the Groupe’s main Executive Committees and 6% increase in the Groupe’s consumption of renewable energy to the detriment of fossil fuels (compared with 2019 – 31.3%).

In addition, as indicated in the compensation policy for the 2020 financial year, in the 2019 Universal Registration Document (see Section 3.2.1.1 “Exceptional items related to the Covid-19 pandemic”), the valuation of the performance of Anne-Gabrielle Heilbronner takes into account, for the year 2020, without modifying her overall variable portion as a percentage of the fixed amount, her ability to manage the crisis by ensuring the health and safety of employees, maintaining smooth operations, protecting revenue and the client portfolios, rigorously managing costs, taking appropriate measures for the strict management of resources and the protection of the Groupe’s assets.

In accordance with the compensation policy adopted for the 2020 financial year, the Supervisory Board, after consulting the Compensation Committee, decided to take into account, in its assessment of the performance of Anne-Gabrielle Heilbronner, the way in which the Covid-19 crisis was managed for the fundamental aspects set out in Section 3.2.2.3 of this document.