Enel’s remuneration policy is consistent with the recommendations of the Corporate Governance Code. Such policy is aimed at attracting, keeping and motivating those persons that have the skills to manage successfully the Company, aligning their remuneration with market standards, in order to ensure an adequate level of competitiveness on the labor market.
The remuneration of the Chief Executive Officer/General Manager and of the Executives with strategic responsibilities is defined so as to align their interests with the priority objective of creating value for Enel’s shareholders over the medium-long term, ensuring that the remuneration is based upon results effectively achieved by the persons in question and by the Group as a whole.
The remuneration policy applicable to such persons is therefore aimed at enhancing sustainable performance.
Such policy is also structured so as to guarantee an adequate balance between fixed and variable components and, with regard to variable components, between short-term and medium/long-term components, in order to ensure equilibrium between such components and the implementation of conducts in line with the sustainable performance of the Group.
The remuneration of non-executive Directors, in accordance with the recommendations of the Corporate Governance Code, is linked with the commitment required of each of them, also taking into account their respective participation on one or more committees established within the Board of Directors.
The policy is described in the first section of the Remuneration Report approved by the Board of Directors of Enel, upon proposal of the Remuneration Committee. Such report, pursuant to article 123-ter of Legislative Decree No. 58/1998, is made available to the public and submitted to the shareholders’ meeting for a consultative vote.
The Report also provides information on the compensation paid to Directors, to the General Manager, to Executives with strategic responsibilities and to the regular Auditors.