A strategic lever to reach our goals

Our remuneration policy aims to align our resources with the company's performance, objectives and results. Together with constant investment in training and development, it contributes to our strategies for motivating talents and key people. 

Principles of our Remuneration Policy

Our remuneration policy is set out in accordance with our strategy, governance model and the guidelines of the Corporate Governance Code of listed companies.

The objective of the remuneration policy is to attract, motivate and retain key and strategic resources and, at the same time, to align the interest of Management with the priority objective of creating value for shareholders in the medium-long term, contributing to the achievement of sustainable results over time, enhancing the performance achieved and recognizing the quality and effectiveness of individual contribution.

The Remuneration Policy choices are based on principles that guide the Group HR Department in the management and development of company human capital.

  • Pay for performance: Consistency between remuneration and performance at company and individual level
  • Competitiveness: Continuous monitoring through comparison with the market to guarantee attraction and retention
  • Simplification and transparency: Definition of clear rules and transparent communication of the Remuneration Policy
  • One Amplifon: Introduction of global total reward tool for the whole group

Definition and approval

The remuneration policy is subject to annual approval by the Board of Directors, by the Remuneration and Appointments Committee  based on the proposal drafted by the CEO, with the support of the HR department.

The HR department ensures consistent management throughout the group, whilst allowing adequate flexibility in order to address the specific demands of the different countries.



Fixed remuneration is focused on the individual profile and market benchmarks: it rewards competence, the contribution of the role and continuity of performance.


The benefits comprised in the remuneration packages are defined by means of an analysis of the best-in-class market practices and respecting the labor unions’ and requirements in the several countries where we operate.


Short-term variable remuneration (STI) is linked to annual performance of the group and geographic area: it encourages reaching annual business objectives. Moreover, it allows to reward the individual performance with respect to the specific objectives resulting from the Performance Development Review process.


Long-term variable remuneration (LTI) promotes alignment with shareholders’ interests and a sustainable value creation in the medium-long term, as well as adherence to the group's three-year strategic plans.


Definition and approval

The remuneration of the CEO and General Manager is presented to the Board of Directors by the Remuneration and Appointments Committee and is aligned to our medium-long term strategy, as well as to market trends and wage levels in benchmark sectors.

Key Managers are the individuals who have the power and responsibility for the planning, managing and controlling Amplifon's activities, as well as the power to adopt decisions that may impact on the development and future prospects of our company. They are, therefore, the executives responsible for the three geographic areas in which we operate and the managers heading the group's primary functions.

The policy regarding remuneration for the Key Managers have been defined by the CEO and General Manager, and are subsequently examined by the Remuneration and Appointments Committee before finally being shared with the Board of Directors.

CEO and General manager's PAY MIX



Chief officers' Pay mix



executive vice presidents' pay mix




Approved by the Shareholders' Meeting held on April 17th, 2019, the Stock Grant Plan 2019-2025 is the new stock-based incentive plan directed to the CEO and General Manager, the Key Managers and other strategic resources who have a significant impact on the company ability to achieve its medium-long term results.

The Stock Grant Plan offers beneficiaries the right to receive ordinary Amplifon shares free of charge at the end of the vesting period.

Access to the long-term incentive is linked to achieving a performance condition (gate) based on the ratio between Net Financial Position and EBITDA. Specific performance objectives are also provided through a matrix based on two indicators: EBIT and net revenue, both with a three-years horizon.

In line with the recommendations of the Corporate Governance Code, the Stock Grant Plan sets out a “clawback clause”: Amplifon may repossess the amounts paid if it is proven that the accrual of the bonus has been determined on the basis of data subsequently proven to be manifestly incorrect.

2020 remuneration report

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Details on the Remuneration of the Board of Directors

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Details on the remuneration of the Key Managers with strategic responsibilities

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Documents on remuneration Go to the archive

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