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Remuneration policy
Activities

07/01/2023 - 04:45 PM

The Nomination and Remuneration Committee's work took place with the planning of activities, implementation of instruments in support of the 2021 Remuneration Policy and the definition of guidelines to the 2022 Remuneration Policy.

Remuneration policy tools and guidelines

TIM Group’s remuneration policy is designed to support the achievement of the objectives set out in the Company’s strategic Plan, while ensuring the Company’s competitiveness on the labor market and its ability to attract, retain and motivate personnel.

The remuneration policy aims at:

  • adopting an appropriate balance between the performance parameters of the short-term and long-term incentive schemes to achieve the Company’s strategic objectives
  • making the Company attractive in the labor market, with particular reference to young people
  • supporting people's engagement
  • safeguarding the principles of internal equality, including with respect to gender
  • safeguarding coherence at Group level, while considering the diversity of the markets of reference

The definition of the remuneration policy is supported by the analysis of market practices in terms of both remuneration levels and composition of remuneration packages, taking as reference both companies in the Telco sector at an international level (peer group Industry TLC) and Italian companies, comparable in terms of size and/or stock market capitalization (peer group FTSE MIB).T

The components of individual remuneration are:

  • Fixed remuneration (which is the only form of remuneration provided for the Directors without specific positions, the Chairman and the Statutory Auditors)
  • Short term variable remuneration
  • Long term variable remuneration
  • Benefits and welfare.

The integration of the various compensation components allows to appropriately balance the monetary and nonmonetary tools, with the aim of increasing the satisfaction of recipients at a sustainable cost.

Activities of the Nomination and Remuneration Committee

The Nomination and Remuneration Committee ensures the implementation of the remuneration policy approved by the Shareholders' Meeting and defines the policy guidelines for the following year.

Among the Committee’s activities, the following may be mentioned:

  • review of the results of the shareholders' vote on the remuneration policy
  • fine tuning of the Peer Group adopted as a reference for the definition of the remuneration policy and the updating of the remuneration benchmarks
  • analysis for the definition of the Remuneration Policy for the following year (short and medium/long-term variable incentive systems)
  • engagement with leading institutional investors and proxy advisors
  • finalization of the results of the previous year's performance objectives.

 

The Committee also deals with issues related to

  • young people and generational turnover in TIM, monitoring the incentive system for millennials in critical roles
  • gender gap and inclusion, through analysis and monitoring activities.

Go in depth on all the components regarding remuneration in the specific sections of the Remuneration Report.