2007 Interactive Registration Document - Renault

04 REPORT
CORPORATE GOVERNANCE
OF THE CHAIRMAN OF THE BOARD PURSUANT TO ARTICLE L. 225-37 OF THE COMMERCIAL CODE
4.5.3 PRINCIPLES AND RULES ADOPTED BY THE BOARD OF DIRECTORS FOR THE
REMUNERATION OF CORPORATE OFFICERS
The Board of Directors, acting on the recommendation of the Appointments and
Remuneration Committee, decides on the remuneration and benefi ts received
by the Chairman of the Board of Directors and the President and CEO.
The remuneration of the President and CEO includes a variable portion ranging
from zero to 150% of the fi xed portion, based on:
n
n
n
return on equity;
difference between budgeted and actual operating margin;
a qualitative criterion linked to strategy and management;
It also includes four option plans. The fi rst plan is exercisable depending on whether
the three commitments under Renault Commitment 2009 are achieved; the other
three depend on reaching fi nancial objectives in 2006, 2007 and 2008.
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The Chairman of the Board of Directors is not entitled to these option plans but
receives a lump sum of €200,000 in respect of his function.
Both men have a supplementary pension scheme. The annuity from this scheme,
combined with the other schemes, is capped at 50% of their remuneration.
The fees paid to the other directors are voted by the Group’s Annual General
Meeting on the recommendation of the Board of Directors. The policy applied
by the Group so far is that directors should receive the median of the fees paid
by CAC 40 companies.
154 Registration Document Renault 2007
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