press release
Paris, February 23, 2015
Publication of the compensation components of the Chairman and CEO and the CEO Delegate
On February 16, 2015, the Board of Directors of Orange made the following resolutions based upon proposals by the Governance and Corporate Social and Environmental Committee regarding the compensation of its corporate officers:
Compensation in respect of 2014
In 2014, the amount of Stephane Richard's fixed compensation remained unchanged at 900,000 euros. Together with the variable compensation decided by the Board of Directors in respect of 2014 and given Stephane Richard's decision not to let Orange bear the cost of the exceptional French tax levied on high income, his total annual gross compensation received in respect of 2014 amounts to 1,318,711 euros.
Gervais Pellissier's fixed compensation also remains unchanged at 600,000 euros. Together with the variable compensation decided by the Board of Directors in respect of 2014, his total annual gross compensation received in respect of 2014 amounts to 1,060,754 euros.
Compensation in respect of 2015
Given the implementation of a long term incentive plan (LTIP), the annual variable compensation if objectives are achieved will decrease, starting January 1, 2015, from 66,66% to 60% of the gross fixed annual salary (in which the amount remains unchanged). In addition, the Board of Directors resolved to keep for 2015 the same indicators for the variable compensation as those retained for 2014. Their respective weight has slightly evolved: revenue growth rate on a comparable basis (excluding regulatory impact for the CEO): 20%; restated EBITDA: 30%; service quality: 17%; and CSR performance: 33%.
These four indicators will be detailed in the 2014 Registration Document, which will also specify the principle and details of the LTIP. A press release on the LTIP was published on December 16, 2014.
about Orange
Orange is one of the world's leading telecommunications operators with sales of 39 billion euros in 2014 and 156,000 employees worldwide at 31 December 2014, including 99 400 employees in France. Present in 29 countries, the Group has a total customer base of 244 million customers worldwide at 31 December 2014, including 185 million mobile customers and 16 million fixed broadband customers. Orange is also a leading provider of global IT and telecommunication services to multinational companies, under the brand Orange Business Services.
Orange is listed on the NYSE Euronext Paris (symbol ORA) and on the New York Stock Exchange (symbol ORAN).
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Press contacts: +33 1 44 44 93 93
Tom Wright, tom.wright@orange.com
Olivier Emberger, olivier.emberger@orange.com
