Performance management
The members of the Executive Board are all designated as Identified Staff. Accordingly, the
performance targets of the Executive Board comply with the distribution prescribed for Identified
Staff between group targets, business unit targets and individual targets. In addition, at least
50% of the performance targets consist of non-financial targets. Examples of performance and
result targets applying to all members of the Executive Board are:
Risk awareness: I make risks a topic of discussion. I ensure that employees are aware of the risks
they deal with in their day-to-day conduct and take responsibility for them. I lead by example.
I discuss externally how Rabobank actively manages risks.
Healthy risk profile: I include explicit risk considerations in all decision-making. I demand that risks
are discussed in strategic proposals and multi-year plans.
Management agenda:Together with the other members of the Executive Board, I implement the
themes stated in the management agenda, taking account of the deliverables and timelines
stated in it.The themes are: strategy, organisation governance, culture behaviour, focus on
customer/ revitalisation of commercial activities, image management, risk management,
budget realisation, management development and legislation and regulations.
Development of remuneration package
The salaries for the members of the Executive Board have not been adjusted for inflation or
increased in any other way since 2008. In 2013, the variable income for the Executive Board was
eliminated, while the rest of the remuneration package remained unchanged.
The chart below shows the development of the overall remuneration package (policy levels) of
the Executive Board in the past five years as indices compared to 2010. The index for 2014 is 65,
meaning that the overall remuneration package has fallen by 35% in a period of five years while
the consumer price index rose by more than 8% in that same period. The peak in the graph in
2012 is connected to the elimination of the senior management supplement for the Executive
Board in that year; a non-recurring compensation was provided for this in 2012.The decrease
since 2013 is connected to the discontinuation of the variable income for the Executive Board.
Overall remuneration package for the Executive Board
2010= 100
140
100
120
Executive Board
I Consumer price index
80
60
40
20
0
2010
2011
2012
2013
2014
Read more about the subject Remuneration here.
Annual Report 2014 Rabobank Group
