Remuneration Committee

 

The Remuneration Committee is chaired by Martin Pike, and its other members are Shirley Garrood, Angela Seymour-Jackson and Peter Shaw. The Remuneration Committee will meet at least two times a year, or more frequently if required.

The Remuneration Committee’s terms of reference state that the Remuneration Committee must comprise at least three independent non-executive directors.

Appointments to the Remuneration Committee are made by the Board, on recommendation by the Nomination Committee. Appointments to the Remuneration Committee are made for a period of up to three years which may be extended for further periods of up to three years, provided the director whose appointment is being considered still meets the criteria for membership.

The responsibilities of the Committee are to determine and agree with the Board the remuneration policy and total individual remuneration packages of the Chairman, Executive Directors and senior management, including where relevant, benefit and pension arrangements, determine and agree with the Board any performance-related pay schemes for senior management and oversee any major changes in employee benefit structures throughout the Group.

The Committee takes into consideration the pay and conditions of employment for employees when considering Executives’ remuneration. The Committee is authorised to investigate any activity within its terms of reference and to seek any information that it requires from any employee. It has the right to consult professional advisers or, if it is not satisfied with the advice received, seek further independent professional advice at the Company’s expense. The Committee’s Chairman reports formally to the Board on its proceedings after each meeting.

The Chair of the Remuneration Committee will be available at the Annual General Meetings of the Company to respond to questions from shareholders on the activities of the Remuneration Committee.

Download Terms of Reference