Executives with Administrative Liability
Our company’s “Remuneration Policy for Executives with Administrative Liability” has been established by taking into account the practices that have been tried and developed by many companies in the world and in Turkey, as a result of scientific studies, research and analyses.
In this context, while determining the remuneration level, the structure and competitive conditions of the sector where the Company operates, production and sales activities carried out, prevalence of activity points, activities carried out abroad, structure of the affiliates owned and their weight in the total, the level of knowledge required to carry out the activities and number of employees criteria are taken into account.
The remuneration of executives with administrative liability have been graded based on the level of knowledge, skills, competence and experience required by the job, the scope of liability and problem solving criteria within the framework of the diversity and volume of the Company’s activities. While determining the monthly fixed remuneration of executives with Administrative Liability according to the grades determined, efforts are made to protect internal balances and remuneration research involving leading companies in Turkey are used. Thus, remuneration that is fair in the Company and competitive in the market is ensured.
The Corporate Governance Committee ensures that the long-term goals of the Company are also taken into account in addition to the criteria above, in determining the remuneration principles and criteria for executives with Administrative Liability and in establishing remuneration proposals.
Board of Directors Members
In the determination of the remuneration levels of the board of directors members, the responsibility taken by the board member in the decision making process, the level of knowledge, skills, competence and experience that is required of them as well as the time they spend are taken into account in addition to corporate practices and comparisons are made with the remuneration levels of board of directors members of similar companies in the sector.
While determining the remuneration levels of the independent members of the board of directors, in addition to the above criteria, care is taken to ensure that the remuneration to be determined is at a level capable of protecting the member’s independence and payment plans based on dividends, share options or the Company’s performance are not used within the framework of the Corporate Governance Principles.
In the determination of the remuneration principles and criteria for the board of directors and formulation of proposals regarding remuneration, the Corporate Governance Committee takes the Company’s long-term goals into account, in addition to the criteria above.
The remuneration to be paid to the members of the Board of Directors is determined pursuant to decisions taken by the general assembly.