Remuneration strategy and incentives are reviewed and aligned to match the Group’s strategic aims by the Remuneration Committee. The Remuneration Committee sets and reviews executive pay and rewards.

The key responsibilities of the Committee are:

  • To determine and agree with the Board the framework and policy for remuneration of the Chairman, the Executive Directors and senior management.
  • Review the Remuneration Policy for all employees and have regard to pay and employment conditions across the Group, especially when determining changes to senior executive remuneration.
  • To determine the total individual remuneration package of each Executive Director, the Chairman and senior management including bonuses and share awards.
  • Review and take into account wider workforce remuneration, pension arrangements, related policies and align the incentives and rewards with culture.
  • Ensure appropriate engagement with the wider workforce to explain the alignment between the executive remuneration pay policy and the wider workforce pay policy.
  • Ensure share incentive plans promote long-term shareholdings by Executive Directors that support long-term shareholder interests.
  • Develop a policy for post-employment shareholding requirements encompassing both vested and unvested shares.
  • Obtain accurate information about remuneration in other companies of comparable scale and use such information carefully.
  • To appoint remuneration consultants.
  • Approve the design of any performance-related pay schemes operated by the Company and approve the total annual payments made under such schemes.
  • Ensure that contractual terms on termination, and any payments made, are appropriate.
  • Oversee any major changes in employee benefits structures throughout the Company or Group.
  • Agree the policy for authorising claims for expenses from the Directors.
  • Work and liaise as necessary with all other Board committees.

Chairman: Nicola Palios
Julia Chapman
Rupert Robson

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