Remuneration Report continued Report of the Report of the Financial Other Contents Overview Executive Board Supervisory Board statements information Summary overview of remuneration elements The Executive Board's remuneration policy is simple and transparent in design, and consists of the following key elements: Remuneration element Description Strategic role Base salary Short-term variable pay Long-term variable award Pensions Involves fixed cash compensation Aimsforthe median of the labour market peer group Is based on achievements of annual measures, of which a weighted 75 per cent relate to financial measures for Heineken N.V. and 25 per cent to individual leadership measures Aims, at target level, for the median of the labour market peer group Is partly paid in cash, and partly in investment shares with a holding restriction of five calendar years: - the part paid in shares is between 25 and 50 per cent of the full gross pay, depending on the individual's choice - the part in cash is paid net of taxes (i.e. after deduction of withholding tax due on the full gross pay) Investment shares are matched on a 1:1 basis after the holding period Is based on achievements of three-year financial targets for Heineken N.V. Aims, at target level, for the median of the labour market peer group Is awarded through the vesting of shares, net of taxes (i.e. after deduction of withholding tax due on the full gross award) Vested shares are blocked for another two years, to arrive at a five-year holding restriction after the date of the conditional performance grant Defined Contribution Pension Plan or Capital Creation Plan Facilitates attraction Rewards performance of day-to-day activities Drives and rewards annual HEINEKEN performance Drives and rewards sound business decisions for the long-term health of HEINEKEN Aligns Executive Board and shareholder interests Drives and rewards sound business decisions for the long-term health of HEINEKEN Aligns Executive Board and shareholder interests Supports Executive retention Provides for employee welfare and retirement needs Labour market peer group A global labour market peer group was adopted by the AGM in 2011, and subsequently adjusted in 2012. The median target remuneration of this peer group is a reference point for the target remuneration of the CEO and CFO. Each year, the Remuneration Committee validates the peer group to ensure relevance, and recommends adjustments to the Supervisory Board if needed. For 2014, the peer group consisted of the following companies, which will apply to 2015 as well: Anheuser-Busch InBev (BE) Carlsberg (DK) Coca-Cola (US) Colgate-Palmolive (US) Danone (FR) Diageo (UK) Henkei (DE) Kimberley-Clark (US) Mondelëz International (US) L'Oréal (FR) Pepsico (US) 50 Heineken N.V. Annual Report 2014

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2014 | | pagina 52