Sporting SAD has announced this Wednesday that it has increased the salary of its three executive directors, including the president Frederico Varandas, having also begun to remunerate non-executive directors and all the company’s governing bodies.
In a note sent to the Securities Market Commission (CMVM), the current fourth-ranked player in the First Soccer League confirmed that the salary review of the SAD’s governing bodies was approved at an extraordinary general meeting of shareholders, held this Tuesday.
The proposal was approved by a majority, having obtained more than 1.26 million votes in favor, some 200,000 votes against and 20 abstentions, revealed Sporting SAD.
The Shareholders Committee, in charge of presenting the remuneration policy for the members of the administration’s governing bodies, proposed to increase the salary of Frederico Varandas by almost 32%, going from 182,000 euros gross per year to 240,000 euros.
The fixed component of the executive vice presidents Francisco Salgado Zenha and André Bernardo will rise by 45% starting next season, going from 131,000 to 190,000 euros gross per year.
The proposed values derive from a study commissioned to the consultancy Korn Ferry, which placed the remuneration of Frederico Varandas “11.4% below the market median.”
The Shareholders Committee also intended to assign a fixed salary of 7,000 euros to the non-executive directors Margarida Dias Ferreira and Maria Inês Pinto de Abreu, in line with the remuneration of the Chairman of the Supervisory Board, Fernando Pinto.
The members of the Supervisory Board will receive 6,000 euros gross per year, while the chairman of the general meeting, Bernardo Ayala, will receive 3,000 euros, plus 1,500 euros for the ‘vice’ and 1,000 for the secretary of the governing body. body.
Source: TSF
