Pay on Performance? - Analysis of 2012 Remuneration in Italian Listed Companies

During the last few years, also thanks to the financial crisis, the executives’ remuneration at listed companies has become a critical issue in the dialogue between issuers and shareholders, who often contested the gap between the top managers’ compensation and the value created. The Frontis Governance’s report analyses in deepest details all the remuneration components of the CEOs and the Board members of 98 Italian listed companies. The purpose of the study is not to define whether an overall compensation is too high, but, as the title states, to evaluate its actual alignment to the company’s goals: are remunerations effectively structured to pay the performance? Thanks to the partnership with the international network of proxy advisers ECGS (“Expert Corporate Governance Service”), the report also includes an in-depth comparison of Italian remunerations with main European peers.