Aligned remuneration policies
Remuneration policies are also fully aligned with the principle of attaching equal importance to Front Office and Risk functions, by ensuring similar salary scales for both functions and avoiding bonus structures that incentivize excessive risk taking. FMO discontinued variable remuneration for members of the Management Board and Directors (as well as for its Identified Staff) in 2012.
In the 2017 Annual Meeting of Shareholders no further amendments to the remuneration policy for the Management Board members were proposed. More details on the remuneration of Management Board members and other specific staff members can be found on FMO’s website: www.fmo.nl/corporate-governance. Remuneration aspects of Management Board members are also discussed in paragraph Related Party Information of the Annual Accounts. The ratio between the remuneration of our CEO (being the highest-paid individual) and the median of all other colleagues in (Dec.) 2017 was 3.5.