The objective of the remuneration policy is to enable Corio to recruit directors for the Management Board with the necessary management skills, required background and experience in the property market.
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The remuneration principles relate to the level and structure of the remuneration package for the Management Board.
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The annual salary of the Management Board is in line with the labour-market reference group, taking into consideration Corio’s size as a proxy to complexity compared with other companies in the reference group.
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All members of the Management Board are eligible for variable remuneration if they achieve
certain pre-agreed performance criteria that support Corio’s short and long-term objectives.
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At the end of 2009, there were no other outstanding unvested shares or share options than the rights detailed in the scheme above.
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The members of the Management Board each have their own individual pension plans.
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Corio provides a competitive package of fringe benefits for its Management Board, in line with those applicable to other employees.
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The full terms and conditions of employment of the members of the Management Board are recorded in individual employment contracts.
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There were no changes to the composition of the Management Board in 2009.
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At the time of the publication of this annual report, Corio N.V. had no intentions to amend its remuneration policy.
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