The executive officer’s compensation includes annual, fixed and variable compensation and long-term compensation. He/She also receives other benefits, such as a supplemental pension plan, collective health and benefit plans, a termination benefit and/or a non-compete indemnity, as well as benefits in kind.
The aim of the compensation policy for the executive officer is to achieve a balance between short and long-term performance in order to promote the Group’s development for the benefit of all of its stakeholders, in line with a sound risk management strategy.
To this end, and with a view to protecting stakeholders' interests, the Company strives to ensure consistency between the executive officer’s compensation package and Sodexo’s performance.
In the context of the renewal of the term of office of Sophie Bellon, Chairwoman and Chief Executive Officer, an in-depth benchmark of practices among our reference panel was carried out with the assistance of a specialized independent consulting firm, in order to assess the positioning of the compensation of the Group's executive officer.
In this context, Board of Directors, on the recommendation of the Compensation Committee, has decided to increase the variable component of the executive officer’s compensation to make it more competitive, as described in the paragraphs below.
It is also specified that the Chairwoman and Chief Executive Officer does not receive compensation for her directorship of Sodexo S.A.
This diagram shows the compensation structure at target.
This diagram shows the compensation structure at maximum.
The weights of target and maximum structures are detailed element by element in the paragraphs below.