Additional information to shareholders on the 2018 remuneration report (Agenda item 1.2. at the annual general meeting on 16 April 2019)
The remuneration philosophy of the Adecco Group is to reward performance, to create a strong alignment between management's and shareholders' interests and to ensure internal fairness and external competitiveness. The Board of Directors aims to ensure that the structure of executive remuneration adheres to market best practices and that shareholders receive adequate information on remuneration matters.
Since publication of the 2018 Annual Report, some shareholders and shareholders' representatives have requested further disclosure with regard to changes to the Long Term Incentive (LTI) target amount of the Group CEO, which was increased to 120% of annual base salary in 2018, compared to 100% in 2017 and 80% in 2016. Shareholders want to better understand the rationale behind these changes.
The Board would like to address the questions regarding the Group CEO's compensation and provides additional information to support shareholders in making fully informed voting decisions at the upcoming Annual General Meeting:
The Board of Directors is convinced that the above-mentioned decisions are reflective of the remuneration philosophy of the company and are well aligned with shareholders' interests. The Board kindly asks shareholders to take into consideration the above when casting their vote on the agenda item 1.2 ‘Advisory Vote on the Remuneration Report 2018' at the 2019 Annual General Meeting. |