Sporting SAD announced this Wednesday that it had increased the salary of its three executive directors, including chairman Frederico Varandas, after also beginning to pay non-executive directors and all of the company’s governing bodies.
In a note to the Securities Market Commission (CMVM), the current fourth-placed player in the First Football League confirmed that the salary review of SAD’s governing bodies had been approved at an extraordinary general meeting of shareholders on Tuesday.
The proposal was approved by a majority, with more than 1.26 million votes in favour, about 200 thousand against and 20 abstentions, Sporting SAD revealed.
The Shareholders’ Committee, which is responsible for presenting the remuneration policy for the members of the administration’s governing bodies, proposed to increase the salary of Frederico Varandas by almost 32%, from 182,000 gross annual euros to 240,000 euros.
The fixed component of executive vice presidents Francisco Salgado Zenha and André Bernardo will increase by 45% from next season, from 131,000 to 190,000 gross annual euros.
The proposed values are derived from a study commissioned by consultant Korn Ferry, which placed Frederico Varandas’ pay “11.4% below the market median”.
The Shareholders’ Committee also intended to award the non-executive directors Margarida Dias Ferreira and Maria Inês Pinto de Abreu a fixed salary of 7,000 euros, in line with the remuneration of the Chairman of the Supervisory Board, Fernando Pinto.
The members of the Supervisory Board receive 6,000 euros gross annually, while the chairman of the board of the general meeting, Bernardo Ayala, receives 3,000 euros, with an additional 1,500 euros for the ‘vice’ and 1,000 euros for the secretary of that governing body. body.
Source: DN
