The Remuneration Committee is comprised of three independent Non-Executive Directors. The Committee is chaired by Graham Martin, with Peter Bacchus and Gabriel Smith as the other members.
The role of the Committee is to assist the Board to fulfil its responsibility to shareholders to ensure that:
- remuneration policy and practices of the Company are designed to support strategy and promote long-term sustainable success, reward fairly and responsibly, with a clear link to corporate and individual performance, having regard to statutory and regulatory requirements; and
- executive remuneration is aligned to company purpose and values and linked to delivery of the company’s long-term strategy.
The Committee shall consider:
- remuneration policies, including base pay, long-term and short-term incentives, post-employment shareholding requirements and use of the Committee’s discretion;
- remuneration practice and its cost to the Company;
- recruitment, service contracts and severance policies;
- pension and superannuation arrangements and other benefits;
- the engagement and independence of external remuneration advisers; and
- a review of workforce remuneration and related policies and the alignment of incentives and rewards with culture.
Details of our current remuneration policy, which was approved by shareholders at the AGM on 13 May 2020 (For: 91.02%; Against: 8.98%; Votes withheld: 0.01%), are set out in our Directors’ Remuneration Policy.