Goirigolzarri (Bankia) resigned from variable remuneration in 2020

Goirigolzarri (Bankia) resigned from variable remuneration in 2020

The Chairman of Bankia, José Ignacio Goirigolzarri, received a fixed remuneration of 500,000 euros during the 2020 financial year, the same as the previous year, and renounced his variable remuneration, compared to the amount of 270,000 euros received in the previous year, as recommended by the European Central Bank on the payment of bonuses to executives this year.

This is clear from the annual report on directors’ remuneration sent by the financial institution to the National Securities Market Commission (CNMV), relative to 2020.

The other two executive directors of the entity, José Sevilla, CEO; and Antonio Ortega, General Director of People, Media and Technology, also renounced the variable remuneration that would correspond to them for the year 2020 and received a fixed salary of 500,000 euros, in line with the previous year.

Altogether, these amounts represent a 35% decrease compared to those received the previous year, when the variable remuneration of each amounted to 270,000 euros.

Likewise, the entity explained that the 500,000 euros charged by Bankia’s executive directors are below the 25th percentile of the remuneration band corresponding to the total annual remuneration of the executive directors of comparable companies.

The entire Bankia board of directors received 2.47 million euros in 2020, 25% less than in 2019 (3.3 million euros), due to the decrease in the remuneration of the three executive directors.

The remuneration of the other non-executive directors of Bankia, all of them independent, was 100,000 euros each, except in the case of Nuria Oliver, who joined the board at the beginning of April 2020, for which she received 74,000 euros. Furthermore, non-executive directors do not receive variable remuneration or any additional amount for attendance fees or membership of committees of the board of directors.