Functions and Remit

The functions and remit of the Appointments and Remuneration Committee are as follows:

  • Report to the Board of Directors on appointments, re-appointments, removals and remuneration of the Board and those sitting on it, as well as general payment and incentive policies for Board members and the senior management team.
  • Report in advance on any motions that the Board of Directors submits to the General Shareholders’ Meeting regarding the appointment or removal of Board members, including cases of co-optation by the Board of Directors itself; to ensure, on a yearly basis, continued subscription to the requirements governing Board membership, with due regard to the nature or type of director in question. This information will be included in the Annual Report. The Appointments and Remunerations Committee, when covering vacancies as they arise, will ensure that selection procedures do not implicitly hinder the selection of female directors and that women matching the desired profile are included among the potential candidates.
  • Draft an annual report on the activities of the Appointments and Remuneration Committee, which must be included in the Management Report.