TABLEAU RÉCAPITULATIF DES ÉLÉMENTS DE RÉMUNÉRATION VERSÉS AU COURS DE L’EXERCICE 2023 OU ATTRIBUÉS AU TITRE DE CET EXERCICE À M. NICOLAS HIERONIMUS, DIRECTEUR GÉNÉRAL
| Remuneration components submitted for a vote | Amounts allocated for the 2023 financial year or accounting valuation | Amounts paid in 2023 or accounting valuation | Description | |
|---|---|---|---|---|
| Fixed remuneration | €2,000,000 | At its meeting of 9 February 2023, on the recommendation of the Human Resources and Remuneration Committee, the Board of Directors kept Mr Nicolas Hieronimus’s fixed compensation at the gross amount of€2,000,000 on an annual basis. This amount has not changed since 2021. | ||
| Annual variable remuneration |
€2,250,000 or 112.5% of target annual variable remuneration |
€2,260,000 | The annual variable remuneration is designed to align the executive corporate officer’s remuneration with the Group’s annual performance and to promote the implementation of its strategy year after year. The Board of Directors strives to encourage the executive corporate officer both to maximise performance for each financial year and to ensure that it is repeated and regular year-on-year. | |
| The target annual variable remuneration is set at 100% of the fixed compensation (or €2,000,000 gross); the annual variable remuneration may reach up to 120% of the fixed compensation (€2,400,000 gross) if there is outperformance on the objectives. | ||||
| CRITERIA FOR ASSESSMENT OF PERFORMANCE FOR 2023 | ||||
| Financial criteria | 60% | |||
| Evolution in like-for-like sales as compared to the budget | 15% | |||
| Net sales growth differential compared to the main competitors | 15% | |||
| Operating profit as compared to the budget | 10% | |||
| Earnings per share as compared to the budget | 10% | |||
| Cash flow as compared to the budget | 10% | |||
| Non-financial and qualitative criteria | 40% | |||
| CSR criteria: L’Oréal for the Future | 10% | |||
| Human Resources criteria | 7.5% | |||
| Digital development criteria | 7.5% | |||
| Qualitative criteria: Management | 7.5% | |||
| Qualitative criteria: Image, company reputation, dialogue with stakeholders | 7.5% | |||
| The assessment is carried out on a criterion-by-criterion basis without offsetting among the criteria. A summary of achievements in 2023 is set out in subparagraph 2.4.2.2.2. of the Universal Registration Document 2023. | ||||
| ASSESSMENT FOR 2023 BY THE BOARD OF DIRECTORS’ MEETING OF 8 FEBRUARY 2024 | ||||
| On the basis of the aforementioned assessment criteria, on 8 February 2024 the Board of Directors decided, on the recommendation of the Human Resources and Remuneration Committee, to award gross variable remuneration of €2,250,000 for 2023, or 112.5% of the maximum target, given the level of achievement of the financial criteria and the qualitative and non-financial criteria of 112.1% and 113.1% respectively. The assessment elements are set out in paragraph 2.4.2.2. of the 2023 Universal Registration Document. | ||||
| Performance shares | 17,000 performance shares valued at €6,323,320 (estimated fair value according to the IFRS applied for the preparation of the consolidated financial statements) |
N/A |
Pursuant to the authorisation of the Extraordinary General Meeting of 21 April 2022 (nineteenth resolution), the Board of Directors decided on 12 October 2023, on the recommendation of the Human Resources and Remuneration Committee, to conditionally grant 17,000 shares (ACAs) to Mr Nicolas Hieronimus. This grant is in accordance with the 2023 remuneration policy defined by the Board of Directors on 9 February 2023 and approved by the Annual General Meeting of 21 April 2023. The fair value of one ACA in the Plan of 12 October 2023, measured according to the IFRS applied for the preparation of the consolidated financial statements, is €371.96, representing, for the 17,000 ACAs granted in 2023 to Mr Nicolas Hieronimus, a fair value of €6,323,320. |
|
