Annual salary
The annual salary of the Management Board is in line with the
labour-market reference group, taking into consideration Corio’s size compared
with other companies in the reference group. Salary increases are determined by
the Supervisory Board, based on the principle that the individual’s annual
salary will reach the standard level within three years of being appointed to
the Management Board, providing his or her performance is satisfactory. Annual
salaries are assessed and revised on 1 May each year, taking into account factors
such as personal performance, the results for the past year, the relative
performance of the property portfolio, any annual or other general change in
salaries at Corio, and, for individual directors whose salary has not yet
reached the standard level, the growth rate.
Source: Annual Report 2008, Chapter Overview & Strategy, page 34 (PDF, 476 kB)
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