The average compensation of executive directors -principally chairpersons with these functions and CEOs-, the Ibex 35 increased 12.3% in 2017, to 3.11 million euros, and that of the executive directors of the rest of listed companies, 20%, up to 868,000 euros . While these increases are explained mostly by the expiration of multi-year incentive plans in two companies, explains the National Securities Market Commission (CNMV) in a statement in which it collects the main data of the annual report of remunerations of the councils.
As for non-executive directors, their average remuneration increased by 4% in 2017, to 210,000 euros, in the Ibex 35 companies, and 14.9%, to 85,000 euros, in the rest of the listed companies.
Regardless of this information, the supervisor believes that improve the information that companies provide on pension plans and other long-term savings systems, and on the criteria and metrics used to determine variable remuneration and its specific application.
In addition, the CNMV publishes today the annual corporate governance report for the year 2017, the third in which the Corporate Governance Code has been applied, whose recommendations have been followed at 84.6%, compared to 83.9% of a year before.
Additionally, another 7% of the good governance councils were followed partially (7.4% in 2016), so that the total or partial follow-up was 91.6% of the recommendations, slightly above 91.3%. % of a year before.
It should be noted that 35.9% of companies – 1.3 percentage points less than in 2016 – followed 90% of the recommendations and four, just as a year before, declared 100% compliance. On the contrary, a company registered a degree of follow-up of less than 50%.
Between the recommendations that were least followed there is that the high-capitalization companies have an appointments committee and a separate remuneration committee and the one that recommends information transparency in the general meeting through its website, with a follow-up of 31.6% and 36, 7%, respectively.
In relation to the board of directors, it should be noted that the average size remained unchanged.
The presidents of the councils continued to be mostly executives (53.2%), especially in the Ibex companies, where this average reached 54.3%.
In 2017, 60% of the Ibex companies had on their boards at least half of independent directors (same percentage as in 2016); of the rest of the companies, 68.3% had at least one third of independent directors (66.7% in 2016).
The presence of women on boards experienced a slight increase, up to 18.9%, compared with 16.6% in 2016. In the case of the Ibex 35, this percentage reached 22.8% compared to 19.7% of a year before This increase was concentrated, however, in positions without executive functions, since the percentage of executive advisers on the total was 4.5%, two tenths less than in 2016.