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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Hermes International | EU:RMS | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-47.00 | -2.05% | 2,251.00 | 2,244.00 | 2,300.00 | 2,303.00 | 2,245.00 | 2,300.00 | 71,927 | 16:47:55 |
PRESS RELEASE
Paris, 20 February 2023
6 p.m
EXECUTIVE CHAIRMEN COMPENSATION
In accordance with the AFEP/MEDEF Corporate Governance Code updated in December 2022 (art. 27.1) HERMES INTERNATIONAL discloses information on all potential or acquired elements of its Executive Chairmen compensation, immediately following the Board meeting having established these elements.
Principles
The compensation elements detailed below are all in line with the Executive Chairmen compensation policy approved by the Shareholders’ General Meeting of April 20, 2022 and presented in the 2021 Universal Registration Document (Chapter 3 « Corporate Governance » § 3.8.1. page 293 et seq.).2023 Fixed compensation and Variable compensation in respect of 2022 financial year1
2023 Fixed compensation (« Additional »)
The 2023 fixed compensation was calculated by applying to the fixed remuneration for 2022 the variation in the Company's consolidated revenue for the 2022 financial year compared to the 2021 financial year, i.e. an increase of +23.4 %.
Émile Hermès SAS' fixed compensation for 2022 was therefore set at €749,081, and the one of Mr Axel Dumas was set at €2,203,574 (actual amounts to be paid).
Variable compensation in respect of 2022 financial year (« Statutory »)
At its meeting of 6 January 2023, the CAG-CSR committee evaluated the level of achievement of the CSR criterion applicable to 10% of the variable compensation of the Executive Chairmen and noted that the three indicators making up the criterion were fully achieved. As a result, the variable compensation, awarded in respect of financial year 2022, has been calculated by applying to the variable compensation effectively paid in 2022 (in respect of the 2021 financial year) the change in the Company’s consolidated net income before tax for financial year 2022 compared with 2021, i.e. an increase of +35.1%.
Émile Hermès SAS' variable compensation for 2023 was therefore set at €1,701,490, and the one of Mr Axel Dumas was set at €3,648,702 (actual amounts to be paid).
Pursuant to article L.22-10-77 II of the French Commercial Code, the payment of this variable compensation is subject to the approval of the respective resolutions to be submitted to the vote of the shareholders at the General Meeting of April 20, 2023.
The actual compensation of the Executive Chairmen has been submitted to:
The Company’s corporate governance practices and the compensation policy of the Executive Chairmen will be set out in detail in the Company’s 2022 Universal Registration Document.
1 As a reminder:
Attachment
1 Year Hermes Chart |
1 Month Hermes Chart |
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