Displaying items by tag: Bonus
Germany: HeidelbergCement has detailed how it uses bonuses to ensure country and cement plant managers achieve their CO2 reduction targets. Chief financial officer Lorenz Näger explained to financial analysts following the publication of the group’s fourth quarter results for 2020, that a plant’s annual reduction target is calculated against the group-wide ‘525 by 2025’ target of CO2 emissions of 525kg/t of cementitious material by 2025. Plant performance against this is multiplied with a financial target to determine a manager’s bonus. This enables for the enlargement of bonuses at financially well-performing plants which exceed their emissions reduction targets. A similar mechanism is also used for country managers. Näger called the incentive mechanism a ‘step-changer.’
France: Lafarge chief executive Bruno Lafont has been awarded a Euro2.5m bonus for the successful merger with Holcim. The board of directors of the company awarded Lafont the money 'for his key role in the merger project with Holcim' and 'his exceptional performance,' according to a document posted on its website. The board accorded the bonus at a meeting on 12 May 2015, two days after Holcim shareholders approved the merger by a vote of 94%. Lafont will receive the money in May 2015.