Connect - Schneider Electric
Connect - Schneider Electric
Connect - Schneider Electric
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Senior Management<br />
The Senior Management team consists of the Management Board,<br />
assisted by the Executive Committee. The 14 member Executive<br />
Committee is chaired by the Chairman of the Management Board.<br />
In addition to the members of the Management Board, it comprises:<br />
• the Executive Vice-Presidents of the Global Functions:<br />
Information Systems, Marketing, Strategy & Innovation, Global<br />
Human Resources and Industrial Operations;<br />
• the Executive Vice-Presidents of the businesses: Power Global &<br />
EMEAS*, Power North America & Buildings, Power Asia Pacifi c,<br />
Industry, Energy, IT and Custom Sensors & Technologies.<br />
Senior Management compensation in 2011<br />
In 2011, gross compensation, including benefi ts in kind, paid by<br />
group companies to members of Senior Management other than<br />
the Management Board members amounted to EUR12,069,456,<br />
including EUR4,984,231 in variable remuneration for the<br />
2010 fi nancial year. Group objectives for the fi nancial year in<br />
question were:<br />
• organic growth;<br />
• operating margin;<br />
• cash fl ow;<br />
• customer satisfaction and dissatisfaction.<br />
Performance shares and SARs<br />
The data below has been adjusted to refl ect two-for-one share<br />
split that took place on September 2, 2011. As part of the annual<br />
long-term participation schemes:<br />
• Allocation of December 2010 for the 2011 fi nancial year<br />
CORPORATE GOVERNANCE<br />
MANAGEMENT INTERESTS AND COMPENSATION<br />
Compensation paid to members of Senior Management other than Management<br />
Board members<br />
* EMEAS = Europe, Middle-East, Africa and South America.<br />
On December 17, 2010, members of Senior Management other<br />
than Management Board members were allocated (for the 2011<br />
fi nancial year) a total of:<br />
– Performance shares (French residents): 29,000 shares under<br />
plan 10;<br />
– Stock grants (non-residents): 88,000 shares under plan 11;<br />
– SARs (US citizens or residents): 190,000 SARs.<br />
All of the options and stock grants are subject partially (50%) to<br />
performance criteria.<br />
• Allocation of December 2011 for 2012<br />
On December 16, 2011, members of Senior Management other<br />
than Management Board members were allocated (for the 2012<br />
fi nancial year) a total of:<br />
– 12,500 stock grants under plan 13 for residents of France;<br />
– 120,250 stock grants under plan 14 for non-residents of<br />
France;<br />
– 210,000 SARs for US residents or citizens.<br />
100% of these allocations are subject to performance criteria.<br />
As of December 31, 2011, Members of Senior Management other<br />
than Management Board members thus held:<br />
• 676,854 stock options including 124,400 subject to the<br />
attainment of Group performance criteria;<br />
• 744,440 SARs including 431,360 that are conditional;<br />
• 338,682 performance shares including 235,716 that are<br />
conditional.<br />
2011 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC<br />
131<br />
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