Page 54 - Loomis Annual Report 2017

50 Corporate Governance Report
Loomis Annual Report 2017
tion programs that are ongoing or were concluded during the year for Group Management, and monitoring and evaluating the application of the guidelines for remuneration of Group Man- agement which, by law, are to be determined by the AGM, as well as current compensation structures and compensation levels within the Company. The Committee presents its proposals to the Board in preparation for board decisions. The Remuneration Committee consists of board members Alf Göransson (Chair- man) and Jan Svensson. In 2017 three meetings were held by the Remuneration Committee.
Loomis’ Group Management
Group Management has overall responsibility for ensuring that Loomis’ ongoing operating activities are in accordance with the strategies and long-term goals established by the Board of Loomis AB, and that risk management, governance, organizational struc- tures and processes are satisfactory. Group Management current- ly consists of the President and CEO, Regional President USA (who is also the Executive Vice President for Loomis AB), Regional President Europe, President Loomis International, Group CFO, HR Director, Executive Group Risk Director and Head of M&A and the Group’s Strategic Advisor. For more information on Group Management, refer to pages 56–57.
Principles for remuneration and other conditions of employment
Remuneration for the President and CEO and other members of Group Management consists of a xed salary, variable remunera- tion, pension bene ts and other bene ts. Variable remuneration is based on results in relation to nancial goals and growth targets in the individual areas of responsibility (Group, region or subsidiary) and is to be consistent with the interests of the shareholders. Vari- able remuneration within the scope of the Company’s so called AIP (Annual Incentive Plan) amounts to a maximum of 60 percent of xed annual salary for the President and CEO and a maximum of 80 percent of the xed annual salary for other members of Group Man- agement. Variable remuneration within the scope of the Company’s so called LTIP (Long-Term Incentive Plan) amounts to a maximum of 40 percent of xed annual salary for the President and CEO and a maximum of 50 percent of xed annual salary for other members of Group Management. For the Board’s proposal on guidelines for re- muneration to Group Management based on agreements entered into after the AGM 2018, refer to page 63. For additional informa- tion regarding remuneration to the President and Group Manage- ment, refer to note 11.