The Chairman of the Board of Directors receives only fixed compensation.
Executive corporate officers’ annual compensation includes an immediate portion and a deferred portion awarded in the form of instruments that vest subject to the fulfilment of performance conditions and the executive’s continued employment within the Group.
ANNUAL COMPENSATION AWARDED TO EXECUTIVE CORPORATE OFFICERS OF CRÉDIT AGRICOLE S.A. FOR 2019 WAS AS FOLLOWS:
Mr Brassac and Mr Musca decided on 8 April 2020 to give up 50% of the amount of their variable compensation to contribute to the solidarity fund for the elderly created by Crédit Agricole in the context of the Covid-19 outbreak.
The reward policy for Executive Corporate Officers is designed primarily to recognise long-term performance and the effective implementation of the Group’s strategic plan. In line with the company’s social focus, this policy goes beyond short-term business results to take sustainable performance aspects into account.
Each year, the Board of Directors reviews and approves the compensation of corporate officers, acting on the Compensation Committee’s recommendations. Compensation policy for the coming year and the amounts paid for the year ended are presented to shareholders for approval at the Annual General Meeting.
In order to take into account the 2022 MTP, the new regulatory framework and investor expectations, the Board of Directors proposes to its shareholders a revision of this policy in 2020. Six major developments are proposed:
with the 2022
of the quantitative
of compensation to
long-term share-based compensations
Review of the