MONTREAL, April 5, 2013 /CNW Telbec/ - A majority of Desjardins caisse delegates approved Desjardins Group's overall approach to compensation. The votes were held during the Annual General Meeting today.
The advisory vote was the first of its kind for Desjardins. The caisse delegates making up the Fédération des caisses Desjardins du Québec General Meeting were invited to vote on the principles guiding the Board of Directors in establishing the compensation policy for all Desjardins Group personnel and upper management.
The general compensation approach for members of the management committee and the President received 66.4% voting support while the compensation approach for all Desjardins Group personnel, including class 1 to 10 managers received 80.8% voting support.
The policy reflects market analyses and external indicators. It positions Desjardins appropriately with respect to financial cooperative groups of comparable sizes and outreach, and also within its own market—the Canadian financial industry.
The policy also aims to ensure Desjardins remains competitive in an aggressive marketplace, while remaining true to its cooperative nature. Desjardins will thus be able to attract and retain the required resources to achieve its mission and its strategic goals, for the benefit of its members and clients.
The Board of Directors took note of the voting results and will consider the delegates' comments and opinions.
About Desjardins Group
Desjardins Group is the leading cooperative financial group in Canada with assets of nearly $200 billion. Drawing on the strength of its caisse network in Québec and Ontario and its subsidiaries across Canada, it offers a full range of financial products and services to its members and clients. Desjardins specializes in Wealth Management and Life and Health Insurance, in Property and Casualty Insurance, in Personal Services, in Business and Institutional Services. Best Corporate Citizen in Canada for 2012 and among Canada's Top 100 Employers, Desjardins is supported by the skills of its 44,942 employees and the commitment of 5,268 elected officers. Desjardins members and the general public are invited to visit Desjardins Group's education and cooperation program website at www.desjardins.com/co-opme.
SOURCE: DESJARDINS GROUP
For further information:
(for journalists only) :
Media Relations, Desjardins Group
514-281-7229 - 1-866-866-7000, ext. 7229