Meetings, allowances and bonuses will be made public The Government finalizes the final twist to the remuneration of the directors of the large Ibex-35 companies. The salaries of the directors will have to be linked to the achievement of objectives, they will have to be submitted to the vote of the Shareholders' Meeting and their allowances or bonuses will be broken down in detail in the companies' annual reports. Guindos does not want trouble in the nationalized banks: he will monitor viability plans and mergers, and will act against managers who cling to their chairs and retirements The 'men in black' from Brussels who inspect Spain do not lead by example: retirement with 70% of salary, 300 euros per month per child, private health insurance Economy is going to give a touch to Belén Romana, president of the 'bad bank', so that she does not earn a salary of 30,000 euros per month Government sources familiar with the project, the Ministry of Economy has on the table a draft of a new regulation to regulate the remuneration of senior management of Ibex-35 companies .
The European Commission has recommended that Spain establish limits on the variable remuneration of directors of large companies. And the Government has already communicated to Brussels the plans that it will implement in the coming months in Spanish listed companies . Salaries linked to the achievement of objectives The sources to
Middle East Mobile Number List which ECD has had access explain that the new legislation seeks to link the salary of Ibex directors to the achievement of specific objectives that give value to the company. Thus, the stratospheric salaries - often unjustified - that some of these executives currently pocket, and which Minister Luis de Guindos has publicly criticized on several occasions, for not being in line with times of crisis and austerity , will be avoided. that the country lives. Subjected to a vote of shareholders Another of the pillars of the reform is to provide greater participation to Shareholders' Meetings in the allocation of these salaries.
It means, in practice, that shareholders have “ the right to vote on the remuneration policy and compensation reports” of listed companies. Detailed allowances and bonuses each year Senior management will also be required to break down the individualized salary of all members of its board of directors. In this way, the annual reports of the Ibex companies must include the per diems, bonuses or shares , among other items, of each of the directors. Leave out bonuses for executives However, the remuneration of the managers of large companies will be saved, for the moment, in its variable part, which refers to bonuses and extraordinary payments . In large companies they defend that these compensations are today taxed at almost 70%, when previously these amounts were largely pocketed by the managers . The Government has already limited the salary of directors of public companies and entities covered by the Fund for Orderly Bank Restructuring (FROB).
