According to the results of the benchmarking exercise for 2023, the total remuneration received by VINCI’s Chairman and Chief Executive Officer can be characterised as follows:
- The fixed component comes out near the median and third quartile of both peer groups.
- The short-term component (fixed and variable) sits near the median of the French peer group but above the median of the International peer group, while remaining below the third quartile of both peer groups;
- The total remuneration (fixed + variable + long-term) is above the median of both panels but near the third quartile of the French peer group.
VINCI’s Chairman and CEO vs median of peer groups in 2023
Source: Mercer (in € thousands).
This graph compares the remuneration of VINCI's CEO with that of the Median of the French peer group and the Median of the International peer group in 2023.
In terms of fixed compensation, the VINCI CEO earns approximately €1.4m, while the Median of the French peer group receives approximately €1.3m, and the Median of the International peer group around €1.1m.
In terms of short-term compensation (fixed + variable), VINCI's CEO receives approximately €2.6m, slightly higher than the Median of the French peer group, estimated at €2.5m, and well above the Median of the International peer group, which is around €1.9m.
In terms of total compensation (fixed + variable + long-term), VINCI's CEO earns approximately €6m, well above the Median of the French peer group, which stands at approximately €4.8m, and Median of the International peer group, estimated at approximately €3m.
VINCI’s Chairman and CEO vs third quartile of peer groups in 2023
Source: Mercer (in € thousands).
This chart compares VINCI CEO compensation with that of the Third quartile of the French peer group and the Third quartile of the International peer group in 2023.
In terms of fixed compensation, VINCI's CEO earns approximately €1.2m, while the Third quartile of the French peer group receives around €1.4m, and the Third quartile of the International peer group approaches €1.1m.
In terms of short-term compensation (fixed + variable), VINCI's CEO receives approximately €2.8m, which is slightly above the Third quartile of the French peer group, estimated at €3.8m, and well above the Third quartile of the International peer group, which is around €3.m.
In terms of total compensation (fixed + variable + long-term), VINCI's CEO earns approximately €6m. The Third quartile of the French peer group stands at approximately €6m. The Third quartile of the International peer group is estimated at approximately €3.5m.
Chief Executive Officer
At the request of the Remuneration Committee, a benchmarking exercise relating to the components of the future Chief Executive Officer’s remuneration package was conducted by an independent firm based on the latest publicly available information for the 2023 financial year. The remuneration policy applicable to the future Chief Executive Officer was compared with that applicable to chief executive officers of the 26 companies in the CAC 40 having opted to separate the roles of board chairman and chief executive officer. This peer group comprises the following companies: Air Liquide, Airbus, ArcelorMittal, Axa, BNP Paribas, Bouygues, Capgemini, Crédit Agricole, Danone, Dassault Systèmes, Engie, Hermès International, Legrand, L’Oréal, Michelin, Orange, Renault, Safran, Sanofi, Schneider Electric, Société Générale, Stellantis, STMicroelectronics, Unibail-Rodamco-Westfield, Veolia Environnement and Vivendi.
The benchmarking exercise showed that the planned fixed remuneration sits near the median of the 26 companies in the CAC 40 and that the upper limit for short-term component is below both the median and the third quartile of the same group of companies.
Chairman of the Board
At the request of the Remuneration Committee, a benchmarking exercise relating to the components of the Chairman’s remuneration package after the separation of roles was conducted by an independent firm based on the latest publicly available information for the 2023 financial year. The remuneration policy was compared with that applicable to chairmen of the 26 companies in the CAC 40 having opted to separate the roles of board chairman and chief executive officer. The peer group was the same as that used for the Chief Executive Officer.
VINCI’s Chairman after the separation of roles
Source: Mercer (in € thousands).
This chart compares the fixed compensation of VINCI's independent chairman. Median of CAC 40 group: approximately €600M.
Third quartile of CAC 40 group: approximately €900M. VINCI: approximately €850M.
VINCI: approximately €850M.
The benchmarking exercise showed that the planned fixed remuneration is slightly below the third quartile of the same group of 26 companies in the CAC 40. This remuneration is justified by the role to be played by the Chairman during the managerial transition alongside VINCI’s Executive Management team.