HIGHLY COMMENDED FARSIGHT AWARD 2013/14 - This report looks at CEOs as risk-takers responsible for defining and executing strategy, but in some cases their remuneration packages can be considered to entail a degree of asymmetry between risk and reward, ensuring they are remunerated even if performance and shareholder value have declined. Focusing on 12 sectors, the first step of this report is to identify the key issues driving each sector and the second is to link these drivers to appropriate financial measures that we believe will ensure that management incentives are correctly aligned with corporate strategy and sector key performance indicators. Three companies - BMW, Munich RE and Technip - are highlighted as examples of companies that in Kepler Cheuvreux's view demonstrate a consistency between investment recommendation and management remuneration that is tied to long term sustainable risk and reward.