Free translation for information purposes only
Information relating to the components of the Chairman and Chief Executive Officer's compensation for the financial year ended December 31, 2020 as determined by the
Board of Directors on March 24, 2021
Further to the recommendation of the Compensation Committee, the Board of Directors, at the meeting held on March 24, 2021 (i) determined Jacques Aschenbroich's variable compensation for his duties as Chairman and Chief Executive Officer for the financial year ended December 31, 2020 and (ii) acknowledged the degree of achievement of his pension plan's performance condition for the financial year ended December 31, 2020.
In the first instance, it is noted that the (gross) fixed compensation paid by Valeo to Jacques
Aschenbroich for his duties for the financial year 2020 amounts to EUR 1,100,000, an amount which is unchanged since May 2019 and remains unchanged in 2021. It is further noted that Jacques Aschenbroich agreed to donate 25% of his fixed compensation for the duration of the partial Covid-19-related shutdown to support solidarity initiatives relating to
Covid-19.
I.
Jacques Aschenbroich's variable compensation for the financial year ended
December 31, 2020
Further to the recommendation of the Compensation Committee, the Board of Directors assessed the degree of achievement of the quantifiable and qualitative criteria of Jacques
Aschenbroich's variable compensation in respect of the financial year ended December 31,
2020. The components of this compensation were set by the Board of Directors on March 24,
2020 acting on the recommendation of the Compensation Committee and approved at a rate of 94.03% by the General Shareholders' Meeting of June 25, 2020 as part of the vote on the
2020 compensation policy (thirteenth resolution) (the 2020 Compensation Policy ).
Qualitative criteria
In order to assess the degree of achievement of each of the qualitative criteria set for 2020,
which are described in the table below, the Board of Directors, acting on the recommendation of the Compensation Committee, carried out a detailed analysis and found a high level of achievement for each of the criteria. The following elements are particularly representative of the year 2020 (see also the table below for further details in respect of the elements considered):
- Remarkable management of the Covid-19 crisis with the implementation of a strict and effective safety protocol, which allowed the Group's 154 plants to restart production under good operating conditions, enabling an incredible recovery in activity in the second half of 2020;
- Valeo's best ever performance in terms of lost-time accidents and severity rates, as well as a decrease of category 1 accidents;
- Excellent results in relation to non-financial criteria (leader in the Dow Jones
Sustainability World index for the fifth year running, Valeo ranked first in the automotive sector in terms of sustainable development by Corporate Knights, the topranked automotive parts supplier by the non-financial rating agencies MSCI, CDP,
Sustainalytics and SAM);
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