We design executive compensation policies to attract, motivate and retain qualified talent to lead our company and maximize long-term shareholder value. Developed by the Human Resources & Compensation Committee of our Board in conjunction with independent consultants, our “pay-for-performance” program:
- Rewards executives who meet or exceed specific and strategic annual and long-term goals
- Aligns compensation with shareholder interests by incorporating approaches such as “Say on Pay” and by linking variable components to total shareholder return or measurements with a demonstrated relationship to total shareholder return.
- Benchmarks compensation levels to the median of a peer group of companies, providing executives with the opportunity to earn above the median through short-, medium- and long-term incentive plans
- Includes six main elements: base salary, short- and medium-term incentive plans, performance stock options issued as long-term incentives, pension benefits and severance benefits
- Weighs compensation towards variable components with emphasis on medium- and long-term targets
You can learn more about our executive compensation program in our Proxy Circular.