Remuneration Committee

The majority of Remuneration Committee members are non-executive independent directors.

The Remuneration Committee is currently composed of the following members:

• Riccardo Varaldo as Chairman
• Franco Debenedetti
• Daniele Discepolo

Functions of the Remuneration Committee

The Remuneration Committee has the duty to make proposals to the Board regarding the remuneration of the Chief Executive Officer and other directors who hold special positions, monitoring the application of the decisions made; and  to make general recommendations to the Board regarding the remuneration of executives having strategic responsibilities in the Piaggio Group, keeping account of information and indications given by the Chief Executive Officer and occasionally checking the criteria adopted for the remuneration of these executives.

Moreover, duties relating to the management of stock option plans that may have been approved by relevant Company bodies have been given to the Remuneration Committee.

During the financial year, two meetings of the Remuneration Committee were held, on 16 April 2009 and on 18 December 2009. 

During these meetings, the Committee decided on the remuneration of appointed persons/parties relative to the 2009 financial year in line with fees paid in previous years and keeping with the undertakings and responsibilities of appointments and professional qualifications of appointed persons/parties. To this end, the Committee also considered the scale of the Company and the Piaggio Group's prospects for global growth.