Report how stakeholders’ views are sought and taken into account regarding remuneration,
including the results of votes on remuneration policies and proposals, if applicable.
The remuneration of senior management staff does not take stakeholders’ views into account. For other employees, the terms of remuneration and employment are defined through Business Collective Labour Agreements, signed jointly by the Company and the Employees’ Association through collective bargaining.
The Company’s management and the Employees’ Association play a central role in determining the remuneration of employees of the company incorporated in the ESSE. Usually, before the expiration of the Collective Labor Agreement, the Association submits its negotiating framework. The management of the company takes into account the financial data of the Group and the Market and negotiates with the Association. When the negotiations are concluded and the Administration and the Association come to an agreement, a practical agreement is signed that is under the approval of the Company’s bodies and the BoD of the company.