Role and responsibilities
The Board of Directors has delegated the following responsibilities to the Remuneration Committee:
- Remuneration Policy – It informs and assists the Board of Directors by providing specialised and independent advice on planning, revising, reviewing and implementing the Policy throughout the Eurobank Group. It also advises the Board of Directors on incentives arising when managing risks, capital and liquidity.
- Alignment of remuneration – It ensures that personnel remuneration is aligned with the risks Eurobank undertakes and manages. It also ensures that there is alignment of remuneration between Eurobank and its subsidiaries.
- Exposures of executives – It approves or proposes for approval all the exposures of the Management executives.
The Remuneration Committee convenes at least 2 times a year.
Appointment and office term
The Remuneration Committee consists of 4 non-executive members, 2 of whom are also independent Directors. One of the NomCo members is the HFSF Representative. The HFSF appointed an Observer in the NomCo, in line with the requirements of the RFA.
The office term of the Committee members coincides with the office term of the Board of Directors, with the option to renew their appointment. In any case, the office term in the Committee should not be more than 12 years in total.