Remuneration Committee

The Remuneration Committee comprises five independent Non-Executive Directors, Mr. G. Martin (Chairman), Ms. E. Headon, Mr. P. Bacchus, Mr. S. McTiernan and Mr. G. Smith.

The role and responsibilities of the Remuneration Committee are set out in its written terms of reference, a copy of which is available at the link below.

The Committee is responsible for determining the policy for the remuneration of the Executive Directors and for monitoring and reviewing the level and structure of remuneration throughout the Group. In this regard the Committee gives full consideration to legal and regulatory requirements, to the principles and provisions of the UK Corporate Governance Code and to related guidance. The Committee also seeks to ensure that risk is properly considered in the setting of the remuneration policy, by ensuring that targets are appropriately stretching but do not lead to the taking of excessive risk.

The Committee determines the remuneration packages of the Executive Directors, including salary, bonuses, share awards, pension rights and other benefits.