At the General Shareholders’ Meeting held on 21st April 2022, Jorge Ponce de Leão (Chairman), Erik Geilenkirchen and Chittaranjan Kuchinad were elected to this Committee, for the term 2022-2024, having remained in office until 24th April 2025.
At the General Shareholders’ Meeting held on 24th April 2025, Jorge Ponce de Leão (Chairman), Erik Geilenkirchen and Kirsty Russell were elected to this Committee, for the term in force.
None of the members of the Remuneration Committee serves on the Company’s Board of Directors, nor do they have a spouse, family member or relative in such a position. They also maintain no relationships with members of the Board of Directors that could compromise their independence or impartiality in the performance of their duties.
Jorge Ponce de Leão, as outgoing Chair of the Remuneration Committee, was present in the 2025 Annual General Meeting of the Company held on 24th April 2025.
In 2025, the Remuneration Committee requested that the Company hire specialized consultancy services with the objective to assessing the alignment of remuneration levels and package components of the Group’s governing bodies with international market benchmarks that are comparable to the context in which the Group operates. Specifically for the Chaiman of the Board of Directors and Chief Executive Officer, non-executive directors, and members of specialised committees.
Independence was a mandatory criterion for the selection of consultants. The service providers were required to be free from any conflicts of interest and were not permitted to render other services to the Company or to any entity that is controlled or has a relationship with the Group.