The members of the Remuneration Committee, as at the date of this Report, are:
- Mr Ross Smyth-Kirk (Chairman of Remuneration Committee);
- Mr Peter McAleer; and
- Mr Craig Carracher.
The Remuneration Committee’s role is to oversee the Company’s remuneration and compensation plans.
To ensure that the review of remuneration practices and strategies on which decision making is based is objective and well founded, the Remuneration Committee engages external remuneration consultants.
The Remuneration Committee supports and advises the Board in fulfilling its responsibilities to shareholders by:
- ensuring shareholder and employee interests are aligned;
- ensuring the Company is able to attract, develop and retain talented employees;
- recommending to the Board, with the Managing Director, an appropriate executive remuneration policy (details of which are contained in CG04_Executive_Remuneration_Policy_090611web.pdf);
- determining the remuneration of Directors (policy details of which are contained in CG05_Non-Executive_Director_Remuneration_Policy_090611web.pdf );
- reviewing and approving the remuneration of those reporting directly to the Managing Director and other senior executives, as appropriate; and
- reviewing all equity based plans for approval by the Board.
The Remuneration Committee operates in accordance with the Company’s remuneration policy. The policy is designed so that it motivates senior executives to pursue the long-term growth and success of the Company and demonstrates a clear relationship between senior executives’ performance and remuneration.
The Remuneration Committee met twice during the 2009 financial year.
The Remuneration Committee operates in accordance with the following charter: CG06_Remuneration_Committee_Charter_090611web.pdf |
