Size of overall remuneration package
A specific labour market reference group has been defined to enable
scope comparison of the overall remuneration package. The Supervisory Board
reviews this reference group periodically and updates it as necessary. In 2008,
a labour market comparison was performed in connection with the appointment of
the CEO. The labour market reference group includes property investment
companies that primarily focus on retail, operating in a number of European
markets (pan-European strategy). Furthermore, Corio is also a Dutch company,
this means that decisions on remuneration must also be considered in light of
trends at other Dutch companies. A significant part of the labour market
reference group therefore consists of Dutch companies of a similar size,
preferably listed companies operating in the property sector.
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The labour market reference group consisted of the following companies in 2008:
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Deutsche Euroshop
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Mercialys
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Eurocommercial Properties
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Q-Park
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Hammerson
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Redevco
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ING Real Estate
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Unibail-Rodamco
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Klépierre
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Vastned Retail
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Liberty International
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Wereldhave
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In addition to the labour market reference group, more generic
information on Dutch companies of a similar size and complexity is taken into
account when remuneration levels are determined, as are the opinions and
experience of the Remuneration Committee.
Source: Annual Report 2008, Chapter Overview & Strategy, page 33 (PDF, 476 kB)
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