MUMBAI: Endemol has taken some significant steps in terms of retaining its key talent. The company has announced that the contracts of senior management of operating companies in Italy, the UK, the US, the Netherlands and Germany and of Endemol COO Tom Barnicoat and CCO Peter Bazalgette has been extended until April 2011.
Furthermore, senior management in Spain and other senior management in Italy have extended their contracts until December 2008, with a renewal option year on year after that and until April 2011.
Additionally, Endemol has introduced a number of incentive schemes to enhance talent retention, foster creativity and deliver financial commitments. For example, there are variable compensation incentives, which are paid based on business performance (mostly for delivering top and bottom line growth). In addition, there is a range of bonuses for Endemol’s creative talent, depending on the market success of formats created.
Also, at the time of Endemol’s recent IPO, a Long Term Incentive Plan was issued. For the management boards, senior management and the other Top 100 employees, performance shares and/or option plans were granted based on delivering a certain total shareholder’s return. For the rest of the employees a cash-based incentive plan was issued as well (of which 45 per cent was paid in 2005).
Furthermore, Endemol also promoted senior vice president finance Jan Peter Kerstens as the company’s new chief financial officer.
