Crédit Agricole S.A. has introduced a responsible compensation policy, with the aim of ensuring fair treatment and recognising individual and group performances over the long term. It therefore conveys our values and is respectful of all our stakeholders: customers, employees and shareholders.
AN EXEMPLARY COMPENSATION POLICY
Remaining loyal to its origins and the commitment made in its Group strategic plan, Crédit Agricole S.A. wishes to take an exemplary approach in its compensation policy.
In order to create this new policy, a review was conducted with shareholders based on the following principles:
- Asserting the link between compensation and long-term performance;
- Introducing standardised rules for setting targets across the Group as a whole and taking account of new dimensions in addition to financial performance alone;
- Consideration of all parties involved in Crédit Agricole S.A.’s success;
- An overall vision of compensation, including multi-year elements boosting long-term performance in addition to “annual salary” components;
- Reinforced governance, guaranteeing the application of the rules and principles set by the Group;
- Strict observance of regulations.
Direct compensation paid to the Group’s executives therefore consists of a fixed salary and an individual bonus, calculated on the basis of:
- Financial targets (50%)
- Social targets relating to three areas - management, customer satisfaction clients and creating social value (50%).
In addition to direct compensation paid to executives, additional benefits are also provided, in particular top-up pension schemes, which were standardised in 2009 across all business units.