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Corporate Governance REMUNERATION REPORT Non-Executive Directors Competitive remuneration Remuneration will be set at levels that enable the Group attract, motivate and retain world-class talent with the right skills required to effectively oversee the operations and growth of the business. The Group will regularly benchmark its remuneration practices against other international organisations whose business profiles are broadly similar to ours, using information gathered from remuneration surveys, peer reviews etc. Fixed Transparency Remuneration will be determined fixed for each year and will be payable periodically throughout the year. The Group will maintain a transparent remuneration process that includes adequate consideration and approval of remuneration payable by the Company’s shareholders. The Committee will continue to monitor the Remuneration Policy’s alignment with the Group’s business priorities and objectives, whilst ensuring that the remuneration framework continues to motivate, reward and retain our senior management in order to deliver the Company’s strategy in the most effective manner. Elements of remuneration Senior Executives (including the Group Chief Executive Officer) Purpose and link to strategy Element Basic pay Objectives This is a fixed salary, which is not dependent on performance. It comprises basic pay and all cash allowances paid to the Executive. Short-term performance incentive This represents the pay-atrisk that is pay is contingent on the achievement of agreed performance indicators. It includes the established and incidental payouts from the annual incentive scheme. To reward contributions to the short to mid-term performance of the Group and demonstrated potential for any future contribution. To attract and retain talent in a competitive international market. Operation Salaries for all roles are determined with reference to applicable relevant market practices and benchmarks. To motivate and reward the delivery of annual goals at the Group and individual levels. Payment to be made monthly. Senior Executives’ annual performance incentives will be evaluated against the performance metrics defined in their approved individual balanced scorecard. Payment in March, following approval of the accounts by the Board in February. Annual Report 2016 125

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