Wednesday, December 03, 2014
Tweet[IWS] HayGroup: NON-EXECUTIVE DIRECTORS IN EUROPE 2014: PAINTING A PICTURE OF PAY PRACTICES, STRUCTURES AND DIVERSITY OF LEADING EUROPEAN COMPANIES [1 December 2014]
IWS Documented News Service
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Institute for Workplace Studies-----------------Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor--------------------Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
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Hay Group
NON-EXECUTIVE DIRECTORS IN EUROPE 2014: PAINTING A PICTURE OF PAY PRACTICES, STRUCTURES AND DIVERSITY OF LEADING EUROPEAN COMPANIES [1 December 2014]
http://www.haygroup.com/ww/press/details.aspx?id=45724
or
http://www.haygroup.com/downloads/ww/hg%20ned%20report%202014.pdf
[full-text, 31 pages]
This study is designed to provide a comparison of board composition and remuneration for
major companies across Europe. We looked at the constituent companies of the major indices
for 12 European countries (a full list of these companies is provided at the back of the report).
The data we collected is from the most recently filed public documentation, primarily annual
reports. The data covers non-executive directors elected by general meeting, thus excluding
all executive management and employee representatives.
We have reported on both the policy pay and the actual pay information for each organisation.
Policy pay data represents the typical pay that each director expects to receive for service
on the main board and committees, including meeting fees (per meeting) if applicable.
Actual pay data is the amount paid to each individual director as reported in the audited
annual reports. This figure will be affected by factors such as the specific number of committees
an individual sits on, how many meetings they attended and, if any form of variable pay is
involved, and the performance of the company.
We have chosen to report most figures as median (rather than average) as this minimises
the impact of extreme or unusual results and is more representative of the ‘true’ picture.
Throughout the report we also refer to the concept of ‘median average’. This refers to how
we calculated the actual awards – we calculated an incumbent average for each company
and then took the median of those averages.
All European values have been converted to Euros taking the average exchange rate for
the year to 31 December 2013
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