Remuneration and Nomination Committee
Pursuant to the Rules, the Remuneration and Nomination Committee makes recommendations to the Board of Directors regarding appointments of the EADS Corporate Secretary, the members of the Airbus Shareholder Committee, and the chairmen of the Supervisory Board (or similar organ), of other important Group member companies and business units, remuneration strategies and long-term remuneration plans and decides the service contracts and other contractual matters in relation to the Board of Directors and Executive Committee members. Once approved by the Chairman, it also reviews the proposals by the Chief Executive Officer for the appointment of members of the Executive Committee and of the Airbus Chief Executive Officer. The rules and responsibilities of the Remuneration and Nomination Committee have been set out in more detail in the Remuneration and Nomination Charter.
The guiding principles governing management appointments in the Group should be that the best candidate is appointed to the position (“best man for the job”), while maintaining at the same time a broad balance in terms of nationalities which should not be detrimental to the quality and cohesiveness of the management team. The implementation of these principles should not create restrictions on the diversity of nationalities within the EADS executive management team.
The Remuneration and Nomination Committee meets twice a year, or more frequently according to requirements. It met seven times during 2007, with a 81% average attendance rate. On top of making recommendations to the Board of Directors for major appointments within the Group, the Remuneration and Nomination Committee reviewed the compensation policy (including pension schemes), the new Executive Committee members salaries, the bonus payments for 2006, the long-term incentive plan and the employee share ownership plan for 2007/2008, as well as the salary review of the Executive Committee members for 2007.
Members
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Sir John Parker (Chairman)
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Rolf Bartke
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Dominique D'Hinnin
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Hermann-Josef Lamberti
Further information: |
