Compensation and Nomination Committee
The Compensation and Nomination Committee was set up by the Board of Directors on February 13, 2012, in compliance with the provisions of the new Corporate Governance Code of listed companies. The former Compensation Committee now also fulfills a propositive and consultative role for the Board of Directors in terms of nominations. The Committee is currently comprised of three non-executive independent Directors. All members of this Committee have adequate knowledge and experience in matters of finance, as assessed by the Board at the time of their appointment.
Saipems Executive Vice President for Human Resources, Organization and ICT acts as Secretary to the Committee.
The Board of Directors provides the Compensation and Nomination Committee with the necessary financial resources to carry out its responsibilities. It also has access to information and company departments as required to carry out its duties, and may also avail itself of external consultants.
Furthermore, the Committee provides opinions, as and when required by the procedure regulating transactions with related parties.
The responsibilities and methods of operations of the Compensation and Nomination Committee are governed by its own Regulations, approved by the Board of Directors on March 13, 2012.
The Compensation and Nomination Committee is currently comprised of: