We are BIC

Our passion for bringing Simplicity and Joy to people's lives is what drives our successes today, and inspires our innovations of tomorrow. With the insight of our Executive Team and unmatched industry expertise, we continue to find meaningful ways to grow our global portfolio of Brands.

From resilience
to transformation

The essential products we create and the love that our consumers have for them is what has kept the BIC® brand resilient during times of major economic or market turmoil for more than 75 years.
Launched in 2019, our Invent the Future transformation Plan has strengthened our core capabilities, and given us a solid foundation on which to grow.

From transformation
to action

Our Horizon Strategic Plan shines a spotlight on our consumers more than ever before.
Grounded on Sustainable Innovation, this new consumer-centric approach will help us respond faster and better to evolving consumer demands while keeping our Brand relevant and purposeful for decades to come.

From action
to performance

Our Strategy is proving successful, resulting in robust Financial Performance and solid Value Creation for all Stakeholders. With our new consumer-centric business model, we are in the best position possible to meet the needs of changing consumer behavior with products that will continue to surprise and delight.

Message
from the CEO

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TRIBUTE TO
BRUNO BICH

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Our values were shaped by Bruno Bich, who passed away on May 30, 2021. Bruno Bich devoted his career to the company founded by his father, Marcel Bich. He served as Chairman and Chief Executive Officer from 1993 to 2006, then as Chairman of the Board of Directors until 2018. These values have been inspiring our team members daily since 1994. They reflect the entrepreneurial and human vision of a leader who placed customers and consumers at the heart of our business model, and accelerated our international growth. He inspired several generations of team members through his commitment and his passion for promoting the BIC® brand and its products.

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“ Our entrepreneurial DNA is organic, and enriched with passion and dedication. ”

Gonzalve Bich, Chief Executive Officer

2021’s results confirmed that BICʼs focus on the Consumer, and on Sustainability are the right choice. Turning our Horizon strategic plan into action, we delivered or over-delivered on what we could control driving momentum and continuously strengthening performance.

We demonstrated our determination to actively manage external headwinds through increased operational and manufacturing efficiencies. We also invested in preparing the company for short, mid, and long-term success with exciting consumer-centric product launches, such as our new EZ Reach Utility Pocket Lighter and the BIC® BAMBOO shaver, and brought to BIC new opportunities for growth with Rocketbook, opening up the new and exciting growth avenue that is Digital Writing.

Aligned with our Horizon Plan, the exciting recent acquisition of Inkbox, the leading brand of semi-permanent tattoos, is yet another proof point of our transformation into a fast-moving Consumer Goods Company bringing Joy and Simplicity to consumers.

2022 will be another unpredictable and challenging year. Anchored in our Mission, we will continue to offer high-quality, reliable and essential products to surprise and delight consumers, thus creating and sharing value that unites all our stakeholders.

Three years ago, we began our journey to create the BIC of the future. Since then, focusing on the consumers, we made choices, took controlled risks, and looked to new and emerging consumer trends for growth opportunities, inside and outside the company.

This is how my grandfather founded this company. Our entrepreneurial DNA is organic, and enriched with passion and dedication.

Welcome to the BIC of the future.

Profile

from vision
to leadership

For the past 75 years, BIC has met consumer needs with High-Quality, Simple and Affordable Products.
We are a world leader in Stationery, Lighters, and Shavers, and one of the world’s most recognized brands, with products sold in more than 160 countries. Our vision is to bring Simplicity and Joy to everyday life.
We seek to create a sense of ease and delight in the millions of moments that make up the human experience. It is this passion that drives our team members each day. We reimagine everyday essentials, designing products that are part of every home. We believe we positively impact the world by offering sustainable solutions that respect the planet through smart, long-lasting design.

Integrity
sustainability
responsability
ingenuity
teamwork
simplicity
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high quality

When we created our first product, the BIC® Cristal® ballpoint pen, we decided to focus on the essentials: a simple, high-quality product, sold at the right price, to facilitate an everyday gesture and to be used by anyone, everywhere.

inventive

We succeeded by responding effectively to consumers’ changing expectations.
Our Research & Development teams work proactively to identify consumer needs and desires and come up with innovations to meet them.

reliable

We have created consumer loyalty by offering the same high quality throughout the product’s life: more than 2 km of writing from one BIC® Cristal® ballpoint pen,
3,000 ignitions from one
BIC® Maxi pocket lighter,
and 17 shaves from a BIC® Flex 3 Shaver.

SUSTAINABLE

We have always been committed to creating long-lasting products with a light environmental footprint, manufactured with a minimum of resources. We use an eco-design approach, integrating alternative solutions such as the use of recycled materials or bioplastics in many products.

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LEADERSHIP POSITIONS

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Human Expression

N°2

Writing instruments manufacturer with cc. 8% market share
37% of 2021 Net sales

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flame for life

N°1

Branded lighter manufacturer with cc. 55% market share (excluding Asia)
39% of 2021 Net sales

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blade excellence

N°2

One-piece manufacturer with cc. 23%
market share
22% of 2021 Net sales

Our Brands

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profile

a global
footprint

BIC is a Global Company, close to its customers and consumers.

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Our global footprint, allows us to stay close to our consumers, enabling us to anticipate and respond to evolving trends while minimizing the Group’s environmental impact.

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Business model

how our business model
creates value

Team members:
the key
to our success

Team members:
the key
to our success

To support growth and development, we continuously reinforce our teams’ skills and capabilities by providing customized training programs and opportunities for career development. BIC also develops a strong Diversity, Equity & Inclusion program.

10,471 team members
€489.0 M payroll costs

12,085 training days

Well-being
and security
at work

To foster the commitment and loyalty of teams, we strive to ensure their everyday tasks are fulfilling and safe.

58 work accidents

1.19% rate of absenteeism

State-of-the-art
and responsible
production

State-of-the-art
and responsible
production

We use a state-of-the-art production line while reducing the environmental footprint of BIC factories and protecting our employees’ health.

24 factories on 4 continents

91 % of Net Sales from products manufactured in BIC factories

A reduced
environmental
footprint

We have considerably reduced our footprint by working throughout our production chain: from the product’s creation to the end of its lifecycle, including a recycling strategy and controlled emissions from BIC® factories and headquarters.

-11.5% water consumption*
-8% energy consumption*
-7.8% waste production*

-11.7% greenhouse gas emissions (scope 1 & 2)*
-13% greenhouse gas emissions (scope 3)

* Per ton of production between 2020 and 2021.

A sustainable
procurement
strategy

A sustainable
procurement
strategy

Through our Responsible Procurement Strategy, we strive to minimize the environmental impact of BIC® products.

€966,5 M purchases of raw materials, consumables and services

323 strategic suppliers

Long-lasting
products

We innovate to respond to consumer needs and to reduce the impact of our products. We are increasingly recognized for the high quality and sustainability of our products.

More than 2 km writing for a BIC® Cristal ballpoint pen
3,000 constant flames for a BIC® Maxi lighter

Up to 17 days of shaving with the BIC® Flex 3

Solid financial
foundation

Solid financial
foundation

Through sound cash management and a strong balance sheet, we ensure access to the capital needed to finance innovation, operations, and enhance growth.

€1,723.8 M Shareholders Equity
€280.6 M Net Cash from Operating Activities

€400.1 M of Net Cash position

Long-term
profitable
growth

The creation of financial value is essential to BIC’s sustainability. Over the years we have remained committed to creating value for all our shareholders.

€1,831.9 M Net Sales
€314.2 M Net Income

€74.9 M Capital Expenditure
€80.9 M Ordinary Dividend paid

Innovation

Innovation

True to our culture of innovation, we maintain a sharp focus on developing new, innovative, environmentally friendly products.

347 patents granted at the end of 2021

1.5% of Net Sales invested in R&D

Education as a
priority

Motivated by our conviction that education is crucial for the development of free will, independence and for combating poverty, we are committed to improving learning conditions for children around the world.

82 philanthropic projects supported
€1 M invested in philanthropic projects

158 million children have benefited from improved learning conditions since 2018

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Team members:
the key
to our success

10,471 team members
€489.0 M payroll costs

12,085 training days

Well-being
and security
at work

58 work accidents

1.19% rate of absenteeism

State-of-the-art
and responsible
production

24 factories on 4 continents

91 % of Net Sales from products manufactured in BIC factories

A reduced
environmental
footprint

-11.5% water consumption*
-8% energy consumption*
-7.8% waste production*

-11.7% greenhouse gas emissions (scope 1 & 2)*
-13% greenhouse gas emissions (scope 3)

* Per ton of production between 2020 and 2021.

A sustainable
procurement
strategy

€966,5 M purchases of raw materials, consumables and services

323 strategic suppliers

Long-lasting
products

More than 2 km writing for a BIC® Cristal ballpoint pen
3,000 constant flames for a BIC® Maxi lighter

Up to 17 days of shaving with the BIC® Flex 3

Solid financial
foundation

€1,723.8 M Shareholders Equity
€280.6 M Net Cash from Operating Activities

€400.1 M of Net Cash position

Long-term
profitable
growth

€1,831.9 M Net Sales
€314.2 M Net Income

€74.9 M Capital Expenditure
€80.9 M Ordinary Dividend paid

Innovation

347 patents granted at the end of 2021

1.5% of Net Sales invested in R&D

Education as a
priority

82 philanthropic projects supported
€1 M invested in philanthropic projects

158 million children have benefited from improved learning conditions since 2018

Risk management

AN EFFECTIVE
RISK MANAGEMENT
SYSTEM

BIC embeds risk management into its core processes to address risks that could significantly impact the company. It includes the identification, mapping and monitoring of external and internal risks to mitigate or insure against their impact.

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BIC’S MATERIALITY MATRIX UPDATE
In 2014, BIC established a materiality matrix to review the degree of internal and external stakeholder interest in key sustainability issues.
This materiality matrix confirmed the overall balance in perception on the material issues facing BIC and the relevancy of the company’s sustainability program.
In 2021, the Sustainable Development, Risks and Corporate Stakeholder Engagement departments revisited this materiality matrix and upgraded the following material sustainability issues in terms of importance to BIC:

  • CSR Corporate Governance
  • Employee development and well-being
  • Diversity, inclusion & equality (DE&I)
  • Purchasing, subcontractors and suppliers
  • Responsible product development
  • Packaging
  • Energy and Climat Change
  • Water
  • Recycling and waste recovery

The materiality matrix update will continue with the mobilization of the key stakeholder groups and culminating in a new materiality matrix in 2022.

governance

A STRONG GOVERNANCE
FOR ACCELERATED AND
SUSTAINABLE GROWTH

Clear and well-structured, our governance is organized to ensure the proper functioning of the Group and the respect of its values. In 2021, BIC strengthened its governance bodies to ensure the success of our consumer-centric strategy and our Horizon plan.

A clear and
well-structured
governance

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Governance

A board of directors
committed
to drive
SUSTAINABLE GROWTH…

BIC’s Board of Directors is committed to defining the Group’s strategy and is supported by three specialized committees: The Remuneration Committee, the Audit Committee and the Nominations, Governance and Corporate Social Responsibility (CSR) Committee.

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Shareholding
structure

As of December 31, 2021, the total number of issued shares of SOCIÉTÉ BIC was 44,677,929, representing 65,654,533 voting rights.

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JOHN GLEN

Interim Non-Executive Chair
Co-opted Independent Director on December 10, 2008, ratified by BIC’s AGM on May 14, 2009. Appointed Interim Non-Executive Chair on May 19, 2021.

Expertise: Management, Finance
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Gonzalve Bich

Director and Chief Executive Officer
Director and Chief Executive Officer since May 16, 2018

Expertise: Management, International, Consumer, Innovation, Human Resources
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Elizabeth Bastoni

Interim Independent Lead Director
Appointed Independent Director on May 15, 2013. Chair of the Remuneration Committee, and of the Nomination, Governance and CSR Committee. Appointed Independent Lead-Director on May 19, 2021.

Expertise: Consumer, Human Resources, CSR
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Vincent Bedhome

Director
Representing the employees. Appointed Director on December 13, 2017.
Member of the Remuneration Committee

Expertise: Manufacturing
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Marie-Aimée Bich-Dufour

Director
Appointed Director on May 22, 2019.
Member of the Nominations, Governance and CSR Committee

Expertise: Legal, CSR
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TIMOTHÉE BICH

Director
Coopted Director on December 10, 2019, ratified by BIC’s Annual General Meeting on May 20, 2020

Expertise: Finance, International
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MAËLYS CASTELLA

Director
Appointed Independent Director on May 22, 2019. Chair of the Audit Committee and Member of the Remuneration Committee

Expertise: Finance, CSR, Innovation
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MARIE-PAULINE CHANDON-MOËT

Director
Appointed Director on May 28, 2003

Expertise: Consumer, Management
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INNA KOSTUK

Director
Representing the Employees.
Appointed Director on December 08, 2020

Expertise: Finance
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CANDACE MATTHEWS

Director
Appointed Independent Director on May 10, 2017.
Member of the Audit Committee and of the Nominations, Governance and CSR Committee

Expertise: Management, Distribution, Consumer, International
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SOCIÉTÉ MBD

Director
Represented by Édouard Bich. Appointed Director on May 24, 2006. Member of the Audit Committee

Expertise: Inversting, Finance
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JAKE SCHWARTZ

Director
Appointed as Independent Director on May 20, 2020. Member of the Audit Committee

Expertise: Digital, Finance, Management

Nikos Koumettis
RECOMMENDED for election
as Independent Director

Upon the recommendation of the Nominations, Governance and CSR Committee, BIC’s Board of Directors recommended the appointment of Nikos Koumettis as an Independent Director, and future Non-Executive Chair of the Board at the Annual General Shareholder Meeting on May 18, 2022. Nikos Koumettis is President, Europe, at Coca-Cola and a member of the company’s executive team. He brings more than thirty years of experience in the Consumer Goods Industry as well as a knowledge of governance topics.

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“ A seasoned, consumer-centric global executive with considerable experience as an Independent Director, Nikos will lead the Board as we re-imagine how we delight the consumer, transform our organization and execute on our Horizon strategy. We are pleased to propose to our shareholders a candidate of Nikos’ caliber. ”

Elizabeth Bastoni, BIC’s Independent Lead Director and Chair of the Nominations, Governance and CSR Committee

… AND SUPPORTED BY ITS COMMITTEES

In 2021, the Board of Directors met eleven times with an average length of four hours. The attendance rate at the meetings was 99.3%.
Apart from the regular duties undertaken by the Board (e.g., closing the accounts, review of the quarterly results, approval of the annual budget, approval of the compensation of Executive Officers, etc.), in 2021 the Board discussed the following:

  • appointment of interim Chair and Independent Lead Director;
  • succession planning for Non-Executive Chair;
  • review of the Roles and Responsibilities for CEO, Board of Directors, Non-Executive Chairman and Lead Director;
  • development of the Group’s Horizon strategic plan;
  • monitoring of Group strategy and progress in e-commerce;
  • the sale of the company’s Clichy headquarters;
  • revised key KPIs and communication agenda;
  • launch and completion of a 40-million-euro impact share buyback program;
  • approval of free share grants to team members;
  • approval and extension of stock-options plans;
  • definition of BIC carbon emission roadmap;
  • internal evaluation of Board membership and performance, and implementation of subsequent actions;
  • review of the process to change Auditors in 2023.

99.3%

attendance rate
at the meetings

Three committees chaired by Independant Directors

The Audit
Committee

In 2021, the Audit Committee met eight times, with an attendance rate of 100%. Apart from its regular duties (International Financial Reporting Standards; Internal Control structure; any other financial reporting matters, including the Universal Registration Document) in 2021, the Audit Committee worked on:

  • the Group’s Internal Control and Audit findings;
  • the Group’s insurance coverage and costs;
  • a request for proposal for external auditors;
  • the review of a new M&A process;
  • the new approach on risk management;
  • the review of the Finance organization;
  • a Business Development review;
  • against the background of the pandemic, a review of the related risks, cash collection and liquidity.

The
Remuneration
Committee

The Remuneration Committee met five times in 2021, with an attendance rate of 100%. The Committee’s work during the year focused on discussions and/or recommendations regarding the:

  • level of remuneration for the Chair of the Board and Board members, and related payouts;
  • level and competitiveness of remuneration for the Chief Executive Officer and the Executive Vice-Presidents, related details (peer group review) and payouts;
  • criteria and related targets to be used for the variable remuneration of the Chief Executive Officer and the Executive Vice-Presidents;
  • design, level and granting of long-term stock-based incentive plans, including the Achieving Horizon Stock Option Plan;
  • review of the remuneration of Executive Committee members;
  • review of the shareholding guidelines and current and anticipated status for each Executive Committee member;
  • review of the incentive philosophy and structure. This includes the possibility of using different stock-based awards to further engage and reward our employees, including the Sharing Horizon employee plan;
  • review of remuneration-related documentation to be disclosed in the Universal Registration Document (Say on Pay) and the resolutions on remuneration policy for the Annual General Meeting;
  • review of benchmark companies for remuneration packages for the Board, Chair and all executives.

The
Nominations,
Governance
and CSR
Committee

The Nominations, Governance and CSR Committee met twelve times in 2021. The attendance rate was 100%. The Committee’s work focused specifically on:

  • the evaluation of the Board’s performance (implementation of previous year action plan and 2021 self-evaluation); reviewing results; identifying areas for improvements; and actions taken;
  • the calibration, search and selection of a new Director to become Chair of the Board;
  • the identification of critical areas of development for the Board and of specific skills for continued development based on the newly introduced Board Skills matrix;
  • the review of the Independence of Directors;
  • the annual performance and development review of the Chief Executive Officer;
  • the setting of objectives for the Chief Executive Officer;
  • the emergency and long-term succession plans for the Chair and Chief Executive Officer;
  • the review of the Roles and Responsibilities for CEO, Board of Directors, Non-Executive Chair and Lead Director;
  • the implementation of new policies concerning Gender and Equality;
  • the commitments of the Sustainable Development Program;
  • the implementation of the new Code of Conduct (replacing the BIC Group Code of Ethics and Guide);
  • the annual review of the organization and its Human Capital (including diversity policy within the Group and top management). This included a review of progress and a focus on the development and succession plans for key roles.

The Board of Directors and its committees actively supervised the company’s response to the management of risks related to COVID-19.

An executive committee
turning strategy into action

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1GONZALVE BICH

Director and Chief Executive Officer

2CHAD SPOONER

Group Finance
GOAL: Evolve a best-in-class finance function by establishing reliable, transversal processes, and continue to ensure the accuracy of financial reporting and efficient planning to drive our global financial performance.

3FRANÇOIS CLÉMENT-GRANDCOURT

Group Lighters
GOAL: Continue to grow the Lighter category through its unique manufacturing process and R&D, maintaining a strong focus on safety and quality.

4GARY HORSFIELD

Group Supply Chain
GOAL: Reinforce the efficiency of our production through centralized purchasing and an « end-to-end » logistical chain while preserving the security, quality and accessibility of our products.

5SARA LAPORTA

Strategy and Business Development
GOAL: Develop a comprehensive corporate strategy, identify and analyze business growth opportunities.

6MALLORY MARTINO

Human Resources
GOAL: Build organizational and people capabilities in support of the long-term strategy, through the implementation of effective talent acquisition, talent management and talent development processes and solutions.

7ELIZABETH MAUL

Group Insights, Innovation & Sustainability
GOAL: Develop our portfolio of innovative products. Collect data and generate new ideas in order to create products and services that match consumers’ expectations, especially in response to their need for creativity, self-expression, and their expectations for sustainable development.

8CHARLES MORGAN

Information Technology
GOAL: Develop secure, reliable and high-performance IT tools at the service of efficient production and commercial activity.

9CHESTER TWIGG

Commercial
GOAL: Lead commercial operations and drive an omnichannel online and offline go-to-market while integrating next generation capabilities.

10THOMAS BRETTE

Partnerships and New Businesses
GOAL: Focus on new Business Models and partnerships to foster long-term growth opportunities.

governance

remuneration :
COMBINING
COMPETITIVENESS
AND ATTRACTIVENESS

BIC relies on best-in-class practices to incentivize and reward Executives and all team members for actions that create long-term Shareholder Value. As a result, our Remuneration Policies promote accountability and align incentives with performance.

Corporate Officers’ remuneration

Remuneration of corporate officers is established on the following principles:

  • Comprehensiveness
  • Balance between the remuneration components
  • Comparability
  • Consistency
  • Clarity of the rules
  • Proportionality

It is also based on peer group studies. Variable and supplementary remuneration requires a positive ex-post vote from the Annual Shareholders Meeting.

Remuneration policy

Chairman, Chief Executive Officer, Executive Vice-Presidents

ANNUAL FIXED REMUNERATION
(+ supplementary pension plan and in-kind benefits)

  • Determined by the Board of Directors
  • Reflects the responsibilities of the Executive Corporate Officer, his/her experience & skills.

ANNUAL VARIABLE REMUNERATION

  • Criteria set to strengthen the linkage between BIC’s results and bonus payout
  • Continued emphasis and explicit focus on CSR as part of individual objectives
  • Variable remuneration structure:
    • 25% Net Sales
    • 25% Adjusted EBIT
    • 20% Cash Conversion Cycle
    • 30% personal objectives:
      2021 CEO’s objectives included the implementation of the Horizon Plan, ESG criteria (Diversity and Inclusion, and Environmental targets), and OPEX reduction.

PERFORMANCE SHARES

  • A central element of BIC’s global remuneration strategy
  • Performances are evaluated over three years
  • The total number of shares granted to the Corporate Officers will not exceed 0.4% of the share capital
  • Criteria of evaluation of performance: Three goals in line with the Horizon strategy established by the Board of Directors:
    • Innovation and vitality rate
    • Rate of Renewable, Recyclable, and Reusable Packaging
    • Free Cash Flow (Cash From Operating activities less CAPEX).
short term
Long term

governance

STRUCTURE OF
CORPORATE OFFICERS’
REMUNERATION

Based on the recommendation of the Remuneration Committee and in accordance with the remuneration policy, the Board defines the Corporate Officers’ remuneration each year.

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TEAM MEMBERS’
remuneration

Recognition of individual and team performance is an essential element of BIC’s remuneration policy. For managers, salary increases are based on individual merit, except in certain countries with legal obligations for general increases.

Variable remuneration represents a target percentage of fixed remuneration that can vary from 5 % for the most junior positions to 75% for certain members of the Executive Committee.

For non-managers, BIC guarantees decent remuneration that respects social minima and is aligned with local companies and international companies operating locally.