Principles for remuneration of Board members and executive management in Circio ASA (Remuneration Principles)
The Remuneration Principles are designed to attract, retain and motivate the members of the Board of Directors and of Executive Management. The Remuneration Principles have been designed to align the interests of the executives with those of the shareholders.
The Board of Directors, with the assistance of the Compensation Committee, determines the compensation policy for Circio. The Nomination Committee recommends the compensation policy for the Board of Directors of Circio. The Compensation Committee and the Nomination Committee believe the compensation practices must support the strategic aims of the business and enable the recruitment, motivation, and retention of senior executives and board members as well as other key employees. Circio’s practices must take into account the views of regulatory and governance bodies and the expectations of shareholders and the wider employee population. The Board of Directors approves the total compensation of the CEO, which is communicated to the shareholders through the Annual Report. The Board of Directors has final approval of the compensation of the Management Team, upon recommendation of the CEO and the Compensation Committee.