Following the decision of the company’s compensation committee, Groupe Casino has set its CEO’s fixed remuneration at €480,000 for 2016, and outlined the metric it will use to arrive at the variable-compensation figure.
The chief executive and chairman of the company, Jean-Charles Naouri, will receive the same amount of fixed compensation as he has each year since 2013.
Three “equally weighted financial objectives” will account for “90% of the target amount and up to 157.5% if objectives are exceeded”, Groupe Casino stated. These are: cash flow in France, trading profit in France, and organic sales growth.
A non-fiscal target based on the supermarket chain’s corporate social responsibility performance accounts for “10% of the target amount, corresponding to the Company being listed in one of the following thee indices: FTSE4GOOD, Euronext Vigeo, DJSI.”
Summarising, the group said that “the target variable compensation corresponds to 100% of the fixed compensation if the objectives are met. If the financial objectives are exceeded, variable compensation can represent up to 167.5% of fixed compensation, for a maximum variable compensation of €804,000.”
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly. To subscribe to ESM: The European Supermarket Magazine, click here.
