NEOPOST - 2018 Registration document
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Corporate governance report
Remuneration of managers and directors
The total remuneration and benefits in kind paid ad due by Neopost SA and the companies that it controls during fiscal 2018 ended on 31 january 2019, to Geoffrey Godet, Chief Executive Officer, is broken down as follows :
Overview of the components of the remuneration of Geoffrey Godet, Chief Executive Officer
Paid or due as of 31 January 2019
(ln thousands of euros) Annual fixed remuneration (a)
603.3
Annual variable remuneration (b)
paid: 0.0 – due: 603.3
Multi-annual variable remuneration
None
Director’s fees (c)
15.0
Benefits in kind (social security for business directors)
12.5
Exceptional remuneration
None
Compensation linked to taking up roles or termination
250.0
Valuation of performance shares awarded during the financial year 369.3 The fixed remuneration is divided in two parts : 510,000 euros paid in France and 112,000 United States dollars paid in the United States. The (a) exchange rate used is the budget rate, i.e. 1.20. The annual variable remuneration “due” corresponds to the bonus provisioned in Neopost S.A. and Mailroom Holding Inc. financial statement (b) at the end of the financial year while the annual variable remuneration “paid” corresponds to the bonus paid relative to the previous year. Prorata temporis. (c)
The quantitative criteria for Chief Executive Officer's variable remuneration for 2018 were as follows:
Weight
Criteria Threshold (0.0%)
Target (100%) Maximum (150%)
40%
Sales
1 023.2
1 077.0
1 109.3
40%
EBIT
17.1%
18.4%
19.2%
20%
Capital employed
(29.3)
(32.5)
(35.8)
The achievements are as follows:
Weight
Criteria
Performance*
Bonus
40%
Sales
1 083.2
110%
40%
EBIT
18.7%
119%
20%
Capital employed
(64.9)
150%
TOTAL 121.4% Performance measured taking into account exchange rates applied when defining the criteria and adjusted by the scope effects, excluding * innovation effort expense.
In addition, the remuneration and appointments committee estimated that each individual (qualitative) performance objective was achieved to a level of 100.0% when the maximum stood at 150%. Overall, Geoffrey Godet's performance stands at 117,12% and his annual variable
remuneration for 2018 amounts to 597,312 euros and 131,174 United States dollars subject to the approval of the
General Assembly as at 28 June 2019.
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REGISTRATION DOCUMENT 2018 / NEOPOST
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