9 Amendments of Karima DELLI related to 2010/2009(INI)
Amendment 6 #
Draft opinion
Paragraph 2 a (new)
Paragraph 2 a (new)
2a. Reminds that directors should not be driven by their personal financial interest in their management of listed companies; considers that the personal financial interest of directors linked to variable remuneration is in many case in conflict with the long term interests of the company, including the interest of its employees and stakeholders;
Amendment 11 #
Draft opinion
Paragraph 3
Paragraph 3
3. Suggests including corporate social responsibility targets in the long-term criteria justifying the payment of deferred variable remuneration; considers that variable remuneration of directors of listed companies should not be mainly based on financial results but also on operational, safety, social and environmental results;
Amendment 15 #
Draft opinion
Paragraph 3 a (new)
Paragraph 3 a (new)
3a. Considers that continuing to do business or maintain branches in non- cooperative countries is contrary to the long-term interests of the company as a whole, and calls for the development of a European plan to combat tax havens in order to implement the pronouncements made by the G20 at London and Pittsburgh;
Amendment 16 #
Draft opinion
Paragraph 3 b (new)
Paragraph 3 b (new)
3b. Is of the opinion, not only for ethical reasons but also for social justice and economic sustainability, that the difference between the highest and the lowest remuneration in a company should be reasonable; proposes that the directors’ remunerations should not be higher than five times the average remuneration of the 1000 best paid employees of the company, and in any case should not be higher than forty times the median income found in the concerned Member State;
Amendment 17 #
Draft opinion
Paragraph 3 c (new)
Paragraph 3 c (new)
3c. Is of the opinion, that the pay raise of directors should be consistent with the pay raise of employees of the company; proposes that the remuneration of directors of a listed company should not be increased more than three times the average pay raise of the employees of the company;
Amendment 19 #
Draft opinion
Paragraph 3 d (new)
Paragraph 3 d (new)
3d. Suggests banning severance pay in case of non-performance or voluntary departure and that directors' pay on severance pay ('golden parachutes') in case of early termination should be aligned to the usual rights of employees in such situation;
Amendment 30 #
Draft opinion
Paragraph 5
Paragraph 5
5. Calls for a ban on using stock options or similar instruments as variable components of remuneration; considers that stock option plans are not an appropriate remuneration tool as stock options give only a bonus and not a malus in case of failure; believes also that all the remuneration should be based on a bonus and malus principle based on symmetrical rules;
Amendment 31 #
Draft opinion
Paragraph 5 a (new)
Paragraph 5 a (new)
5a. Considers that share based variable remunerations are not appropriate incentives as share prices are particularly volatile which encourage short-term driven financial strategies;
Amendment 36 #
Draft opinion
Paragraph 6 a (new)
Paragraph 6 a (new)
6a. Reiterates the need to punish all forms of discrimination in companies, particularly in the determination of remuneration policies, in career development and in the process of recruiting directors;