Monday 10 December 2018

Remuneration Committee

Α+ | A-

CHAIRMAN

  • Hiro Athanassiou, Independent Non-executive Member of the Board

MEMBERS

  • Alexander Macridis, Independent Non-executive Member of the Board
  • Petros Sabatacakis, Independent  Non-executive Member of the Board

STRUCTURE

The Remuneration Committee consists entirely of non-executive members of the Board, at least two of whom are independent non- executive directors.
The Committee members (regular and alternate) are appointed by the Board.
The Chairman's duties are assigned to one of the independent members of the Committee and the duties of the Secretary are performed by the head of the Company's Human Resources Department, or their deputy.

TERM OF OFFICE

The Committee's term of office is set at three years, commensurate to the term of office of the Board of Directors.

DUTIES

The Committee recommends to the Board appropriate remuneration, benefits and economic incentives, in line with the conditions prevailing in the market, in order to attract, retain and motivate directors and employees of the highest calibre in the Group.

RESPONSIBILITIES

The Committee recommends to the Board of Directors:

  • The remuneration and benefits policy for the Group's senior officers.
  • The total remuneration (fixed and variable, including stock options) of executive members of the Board, of Group officers at hierarchy level E and of the Group Internal Audit Director, upon agreement by the Audit Committee.
  • The compensation of the Chairman and members of the Board of Directors, the Audit Committee and the other Board Committees.

MEETINGS

The Remuneration Committee holds a regular meeting at least once a year, within the first five months of each year, and extraordinary meetings whenever is deemed necessary by the Chairman or any member of the Committee.

Committee meetings may be attended by the Chief Executive Officer, unless the Committee otherwise decides.

The Committee may invite other Company officers to attend its meetings, subject to the issues to be discussed.

The Remuneration Committee may be assisted in its work by special consultants, who are selected by the Committee and who do not belong to the Company's staff. The remuneration of such consultants is paid by the Company.

The Secretary of the Committee shall keep minutes of all meetings, which shall be approved by participants.

COMPENSATION

The Remuneration Committee members are entitled to a special remuneration, the amount of which is recommended by the Board and is submitted for approval to the Annual General Meeting.

ASSESSMENT

The work and efficiency of the Remuneration Committee is assessed every year by the Board.

 
 
 
 
 

Report 2017