Remuneration Committee
The Committee consists of, at least three (3) BoD Members that should not exceed 40% of the total number of the BoD Members of Piraeus Financial Holdings. All the Members of the Committee are non executive, the majority of whom must be independent. At least one (1) Member of the Committee should also be a Member of the Risk Committee to oversee alignment of Remuneration Policy with the risk and capital adequacy strategy of Piraeus Financial Holdings.
Composition of the Remuneration Committee:
The Committee is supported by an Executive Secretary. The Committee convenes, following the Chairman’s invitation, as many times as required necessary for the fulfillment of its mission, but not less than four (4) times every calendar year.
The main responsibilities of the Committee are:
- to recommend and advice the BoD for the processing of its supervisory responsibilities regarding the design, control of implementation and periodical revision of the Remuneration Policy and the Directors’ Remuneration Policy and the alignment of same with the corporate strategic goals of Piraeus Financial Holdings. In fulfilling its tasks, the Committee will take into account the Risk appetite framework of Piraeus Financial Holdings and the long-term interests of the shareholders, investors and other stakeholders
- to monitor the implementation of a framework that objectively evaluates the performance and is directly linked with the determination of the remuneration of employees, whose professional activities have a material impact on the risk profile of Piraeus Financial Holdings (Risk Takers), as well as of the total of employees.
- to oversee the implementation of Piraeus Financial Holdings’ policies regarding talent management and succession planning
- to assess the implementation of strategies with the purpose of building a Corporate Culture that will support the objectives and vision of Piraeus Financial Holdings
Details on the responsibilities and the operations of the Committee are available here.