1. Integrated report
A responsible compensation policyA responsible compensation policy
In the interest of Sodexo and its stakeholders, and in accordance with our values, the Board of Directors ensures that the company off ers a responsible compensation policy to deliver performance and achieve Sodexo’s long-term strategy.
« OUR COMPENSATION POLICY, BALANCING INDIVIDUAL AND COLLECTIVE RECOGNITION AND LONG- AND SHORT-TERM PRIORITIES, SEEKS TO STRENGTHEN OUR CULTURE OF PERFORMANCE. THE STRONG AND RESPONSIBLE DECISIONS MADE DURING THE YEAR, IN RESPONSE TO THE EXCEPTIONAL SITUATION WE ARE FACING, REFLECT SODEXO’S VALUES. »
CÉCILE TANDEAU DE MARSAC
Chairwoman of the Compensation Committee
PRINCIPLES FOR COMPENSATION
COMPLIANCE
COMPETITIVENESS
COMPLETENESS BALANCE
Performance
Transparency
ALIGNMENT OF INTERESTS
EMPLOYEE RELIEF PROGRAM
In April 2020, faced with the social and economic consequences of the Covid-19 pandemic, Sodexo decided to create an Employee Relief Program . This global program, administered locally according to the specific needs of each country, supports the most vulnerable on-site staff that have been impacted by the business interruption and resulting revenue declines.
This solidarity initiative was enabled by a contribution from the company and by the reduction of the compensation of the Group’s senior executives for a total of 30 million euro..
- The compensation of Sophie Bellon, Chairwoman of the Board of Directors, was reduced by 50% for the second half of the fiscal year.
- The fi ed compensation of Denis Machuel, Chief Executive Officer, was reduced by 50% over the second half of the fiscal year and his variable compensation was suppressed for Fiscal 2020.
- Fixed compensation for Executive Committee members was reduced by 10% over the second half of the fiscal year, and their annual variable compensation was suppressed
- The 200 senior executives, from all geographies, activities and segments, also contributed to this program through the cancellation of their annual variable compensation.
COMPENSATION OF THE CHAIRWOMAN OF THE BOARD OF DIRECTORS
Compensation structure
The compensation structure applicable to the Chairwoman of the Board of Directors comprises a fixed compensation payment and collective health and benefit plans. As the Chairwoman is a non-executive director, in line with market practices in France, she does not receive any variable compensation, either short-term annual or multi-year, nor does she benefit from a long-term incentive plan.