The objective of GrandVision’s remuneration policy is to attract, motivate and retain management that is qualified for an international company of GrandVision’s size by means of a market-compliant policy.
The Supervisory Board established the remuneration of the members of the Management Board in accordance with the Management Board remuneration policy, and the arrangements for remuneration in the form of shares that both have been revised and approved by the General Meeting on May 2, 2017.
As a listed company, GrandVision recognizes the principles of good governance, and best-practice provision 3.4.1 of the Dutch Corporate Governance Code which stipulates that information must be included in the remuneration report as to the manner in which the remuneration policy of the preceding year has been implemented.
The first part of this remuneration report describes the remuneration for the members of the Management Board in 2017. In accordance with art. 3.1.2. of the Corporate Governance Code the company will now also report on the pay ratio of the remuneration for the members of the Management Board.
The second part sets out the remuneration policy that has been adopted for 2017 and subsequent years as envisaged by the Supervisory Board. The report concludes with the details of the remuneration policy applied for the Supervisory Board in 2017.