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DANONE
REGISTRATION DOCUMENT 2015
Corporate Governance
6.3 Compensation and benefits of corporate officers and governance bodies
279
It therefore set Mr. Emmanuel FABER's annual variable compensation for 2015 at 124% of the compensation target, i.e. €1,240,000. The
details of this calculation are presented hereafter:
Indicators
Weighting
Percentage of
fulfillment
Percentage after
weighting
Fulfillment as amount
(in €)
Economic
60%
115%
69%
€690,000
Social and societal
20%
150%
30%
€300,000
Managerial
20%
125%
25%
€250,000
2015 total variable compensation
100%
124%
€1,240,000
The details of the percentage of attainment of the economic component are described hereafter:
Indicators
Weighting
Percentage of
fulfillment
Percentage after
weighting
Net sales
25%
90%
22.5%
Margin
25%
130%
32.5%
FCF
10%
140%
14%
Total
60%
115%
69%
Annual variable compensation target for 2016
The target amount of the Chief Executive Officer's annual variable
compensation for 2016, its components and the maximum compen-
sation percentage are the same as the previous year. As in 2015,
it will consist of three portions: an economic portion, calculated
based on Danone's objectives communicated to the financial mar-
ket, a social and societal portion, and a managerial portion with
the same weightings.
In accordance with the French Financial Markets Authority recom-
mendation no. 2012-02 of February 9, 2012, the expected level of
fulfillment for each of these criteria was specifically predefined by
the Board of Directors, at the recommendation of the Nomination
and Compensation Committee, but cannot be disclosed publicly for
reasons of confidentiality.
In accordance with the recommendations of the AFEP-MEDEF Code,
the payment of this variable compensation, subject to performance
conditions, will be the subject of a specific disclosure at the end of
2016. It will also be detailed in the 2016 Registration Document.
Details of Group performance units granted to the corporate officers
The Board of Directors, at the recommendation of the Nomination
and Compensation Committee, grants Group performance units to
the corporate officers each year (for more information, see section
General principles of Group performance units
above).
Grants during the year and history of Group performance unit
grants to the corporate officers
It should be noted that, as part of the overall assessment of the
Chairman of the Board's compensation, the Board of Directors de-
cided that no Group performance units will be granted to him in 2016.