Remuneration Policy
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The remuneration to be paid to the members of the Board of Directors is determined every year at the ordinary general assembly meeting. Executive board members are paid under the policy set for senior executives detailed below. Payment plans based on the performance of the company cannot be used in the remuneration of independent board members. However, care is taken to ensure that the remuneration of the independent board members is at a level that protects their independence.
The members of the board of directors are paid taking into account the period of their tenure as of the date of their appointment and departure. The expenses incurred by the members of the board of directors due to their contributions to the company (transportation, telephone, insurance, etc.) may be covered by the company. Senior executive remuneration consists of two components: fixed and performance-based. Our remuneration policy; compensation and benefits management; fair, objective, appreciating high performance, competitive, rewarding and motivating criteria are organized and implemented in line with their main objectives.
To supplement remuneration management with additional benefits, “fringe benefits” are treated as an important part of total reward management. The benefits aimed to be provided as a company include the principles of being competitive and fair in accordance with market conditions.
Fee; In order to support the company’s goals and strategies, if deemed necessary according to the changes in the company’s business processes and the increasing risks in the sector, it is reviewed and updated at least once a year in order to increase motivation and loyalty.
If there is a change in the wage level of the employees who have been promoted or who have a change of duty, the employee’s new salary will be determined depending on the position within the new level. Confidentiality of wages, premiums and other personal rights is essential.
Employees with administrative responsibility shall be paid remuneration in the amount approved by the board of directors. Payments to employees with administrative responsibility will be designed to encourage the Company to achieve its short- and long-term goals and ensure sustainable performance.
The Company may not lend to any member of the board of directors or its directors with administrative responsibility, extend the term of the debts or loans given, improve the terms, extend the terms of the debts or loans that have been given, extend the loans under the name of personal loans through a third party or give guarantees such as surety in its favor.
The remuneration given to the members of the Board of Directors and senior executives during the year and all other benefits provided shall be disclosed to the public through the annual activity report and shall be presented to the shareholders at the General Assembly meeting held for the year in question.