FINAL TAKE HOME ASSIGNMENT
ESG in executive remuneration
Tilburg University.
Student:
Subject: Corporate Governance and Sustainability
Teacher: Prof. dr. Cristoph van der Elst
Mr. dr. Steffie Vereijken-Van den Bosch 22/05/2026
Mr. Bahar Ferahköse 2025/2026
, Table of Contents
1 INTRODUCTION............................................................................................3
2 METHODOLOGY AND ASSESSMENT FRAMEWORK...........................................3
3 COMPANY 1: AHOLD DELHAIZE N.V. (NETHERLANDS).....................................5
3.1 REMUNERATION STRUCTURE..............................................................................................5
3.2 INTEGRATION OF CSR AND SUSTAINABILITY.........................................................................5
3.3 ALIGNMENT WITH SUSTAINABILITY GOALS.............................................................................6
3.4 WORKER WAGES AND CONDITIONS.....................................................................................6
3.5 ASSESSMENT AND GRADE................................................................................................. 7
4 COMPANY 2: TESCO PLC (UNITED KINGDOM).................................................7
4.1 REMUNERATION STRUCTURE..............................................................................................7
4.2 INTEGRATION OF CSR AND SUSTAINABILITY..........................................................................8
4.3 ALIGNMENT WITH SUSTAINABILITY GOALS.............................................................................9
4.4 WORKER WAGES AND CONDITIONS.....................................................................................9
4.5 ASSESSMENT AND GRADE............................................................................................... 10
5 COMPANY 3: CARREFOUR S.A. (FRANCE).....................................................11
5.1 REMUNERATION STRUCTURE............................................................................................ 11
5.2 INTEGRATION OF CSR AND SUSTAINABILITY........................................................................11
5.3 ALIGNMENT WITH SUSTAINABILITY GOALS...........................................................................12
5.4 WORKER WAGES AND CONDITIONS...................................................................................12
5.5 ASSESSMENT AND GRADE............................................................................................... 13
6 COMPARATIVE ANALYSIS...........................................................................13
7 REGULATORY RECOMMENDATIONS.............................................................14
8 CONCLUSION............................................................................................. 15
9 AI STATEMENT........................................................................................... 15
ESG in executive remuneration
Tilburg University.
Student:
Subject: Corporate Governance and Sustainability
Teacher: Prof. dr. Cristoph van der Elst
Mr. dr. Steffie Vereijken-Van den Bosch 22/05/2026
Mr. Bahar Ferahköse 2025/2026
, Table of Contents
1 INTRODUCTION............................................................................................3
2 METHODOLOGY AND ASSESSMENT FRAMEWORK...........................................3
3 COMPANY 1: AHOLD DELHAIZE N.V. (NETHERLANDS).....................................5
3.1 REMUNERATION STRUCTURE..............................................................................................5
3.2 INTEGRATION OF CSR AND SUSTAINABILITY.........................................................................5
3.3 ALIGNMENT WITH SUSTAINABILITY GOALS.............................................................................6
3.4 WORKER WAGES AND CONDITIONS.....................................................................................6
3.5 ASSESSMENT AND GRADE................................................................................................. 7
4 COMPANY 2: TESCO PLC (UNITED KINGDOM).................................................7
4.1 REMUNERATION STRUCTURE..............................................................................................7
4.2 INTEGRATION OF CSR AND SUSTAINABILITY..........................................................................8
4.3 ALIGNMENT WITH SUSTAINABILITY GOALS.............................................................................9
4.4 WORKER WAGES AND CONDITIONS.....................................................................................9
4.5 ASSESSMENT AND GRADE............................................................................................... 10
5 COMPANY 3: CARREFOUR S.A. (FRANCE).....................................................11
5.1 REMUNERATION STRUCTURE............................................................................................ 11
5.2 INTEGRATION OF CSR AND SUSTAINABILITY........................................................................11
5.3 ALIGNMENT WITH SUSTAINABILITY GOALS...........................................................................12
5.4 WORKER WAGES AND CONDITIONS...................................................................................12
5.5 ASSESSMENT AND GRADE............................................................................................... 13
6 COMPARATIVE ANALYSIS...........................................................................13
7 REGULATORY RECOMMENDATIONS.............................................................14
8 CONCLUSION............................................................................................. 15
9 AI STATEMENT........................................................................................... 15
