the managing board

Remuneration policy and remuneration report

The remuneration of the Managing Board is set by the Supervisory Board and regularly tested for conformity with the market. It consists of a fixed and a variable part. When the fixed salary, which is subject to annual indexation, is set, the size and growth of the company, together with other factors, are taken into account. The variable part equals at most 50% of the fixed part and is tied to the group result and ROCE, as well as to specifically defined annual targets.
These targets and the performance goals are set by the Supervisory Board each year. The Supervisory Board has discretionary powers to set the amount of the variable remuneration.


The employment contracts for the members of the Managing Board include a pension plan that provides for retirement at age 65. Mr De Moor has a final pay plan, whereas the plans for Mr Coorens and Mr Strijbos are a combination of final pay and defined contribution plans.
In addition, the Managing Board members receive option rights to acquire ordinary shares in Macintosh Retail Group NV. These option rights are likewise granted by the Supervisory Board.

 

Only in the event of a change in control at Macintosh Retail Group NV, as a result of which the Managing Board in office effectively loses the control required to determine policy under the supervision of the Supervisory Board, the individual contracts of service provide that, on termination of employment within a year of this situation occurring, Mr De Moor will receive compensation amounting to three times his fixed annual remuneration, while Mr Strijbos and Mr Coorens will receive compensation amounting to twice their fixed annual remuneration.

 

Click here for the remuneration report 2013/2014 (in Dutch).