SAD Sporting intends to increase the salary of President Frederico Varandas by 32%. The proposal sent this Friday to CMVM is for a salary increase for the President Sports Anonymous Sports Society (SAD) from the current 182 thousand euros to 240 thousand euros. As for vice presidents, SAD calls for a 45% increase.
The offer may be approved by the extraordinary general meeting of shareholders on May 16.
SAD Sporting decided to ask for an increase in the salary of the president and governing bodies after a study by consultant Korn Ferry found that “the remuneration of the chairman of the board of directors is 11.4% below the market median,” they say.
The permanent component of executive vice presidents Francisco Salgado Zegna and André Bernardo could rise by 45% from next season, from €131,000 to €190,000 gross per annum.
The suggested values are based on a study commissioned by consultant Korn Ferry, according to which the remuneration of Frederico Varandas is “11.4% below the market average”.
The Shareholders’ Committee also intends to assign a fixed salary of €7,000 to non-executive directors Margarida Diaz Ferreira and Maria Ines Pinto de Abreu, in line with the remuneration of the chairman of the supervisory board, Fernando Pinto.
Members of the Supervisory Board will be able to earn 6,000 euros gross per year, while Bernardo Ayala, chairman of the board of the general assembly, should earn 3,000 euros, another 1,500 euros for “deputies” and 1,000 euros for “deputies”. secretary of this governing body.