Highlights of the Remuneration Policy for the period 2024-2026
The doValue Group offers a fair, equitable and competitive total compensation package that fits and is aligned to our Group’s strategy, business goals as well as in line with market practices.
The new Remuneration Policy aims to reward sustainable performance within the Group, encouraging the achievement of the objectives outlined in the strategic plan and strengthening the ability to retain and attract Executives with strategic responsibilities.
The Company regularly monitors market remuneration and incentive practices and uses peer group information to assess the competitiveness of the remuneration levels. Structure of peer group has been selected from a panel of European Listed Companies operating in businesses with similarities with doValue business portfolio and Italian Financial Institutions with complexity comparable to doValue.
The new 2024-2026 Policy highlights the following changes:
1. New remuneration structure for the inclusion of the CEO, which sees a revision of fixed and variable remuneration and the inclusion among the beneficiaries of the third and last cycle (2024-2026) of the 2022-2024 LTI Plan;
2. Adoption of a new peer group to verify the competitiveness of the CEO’s remuneration package;
3. Ex-ante disclosure on the target values linked to the individual performance indicators of the third and final 2024-2026 cycle of the 2022-2024 LTI Plan;
4. Revision of the Pay-Mix of the CEO and DIRs which includes:
> For the GROUP Chief Executive Officer (Group CEO), a maximum 100% incidence of the MBO with respect to the fixed remuneration and a maximum 160% incidence of the LTI Plan.
The MBO plan provides for an entry gate. It is represented by the achievement of at least 80% of the target value of the Group's EBITDA envisaged in the budget for the reference year.
In line with the Company's strategic drivers focused on profitable growth, technological/digital innovation and transformation, operational excellence, people engagement and the creation of sustainable value, the CEO's MBO includes:
• economic and financial objectives with a weight of at least 75%
• non-financial objectives (strategic and sustainability), predetermined and measurable with a total weight not exceeding 25%
> For other Executives with strategic responsibilities, excluding the Control Functions (DIRs), the alignment of the short-term variable component with the long-term variable component (50/50 between MBO and LTI)
The policy oversees the revision of the MBO scorecard of DIRs, increasing the weighting of financial KPIs in line with stakeholders requests and market practices.