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Remuneration

Remuneration Committee

The Remuneration Committee is a committee of the Board. View its terms of reference, copies of which are also available on request from the company secretary. The Committee has responsibility for setting remuneration policy and structure for the Company’s chairman and executive directors. The Committee also has oversight of remuneration practices across the Group.

The independent non-executive directors who serve on the Committee are shown in table 1.

Table 1: Members of the Committee

Member From To
Fiona Clutterbuck (acting chairman) 15 June 2009 To date
Allister Langlands 1 July 2015 To date
Thomas Leppert 31 July 2014 To date
Gretchen Watkins 1 June 2016 To date

Committee meetings are attended by the Group HR director. The chairman, Allan Cook, the CEO, Uwe Krueger, and the Group reward director also attend meetings at the discretion of the Committee chairman. The company secretary, or their nominee, acts as secretary to the Committee. No director or other attendee, including the company secretary, participates in discussions regarding their own remuneration.

The Committee receives advice from Mercer on remuneration policy and structure. Tapestry provides legal advice with respect to share plans. The Committee also consults the chairman of the Board, CEO, the Group HR director and the company secretary regarding remuneration policy.

Details of the directors’ remuneration and more specific information about the work of the Committee is provided in the Remuneration Report within the Annual Report.

Remuneration Policy

The Company’s remuneration policy was last approved by shareholders at the annual general meeting held on 30 July 2014. A copy of the Company’s full approved policy is available here. The Company will submit a revised remuneration policy to shareholders at the annual general meeting to be held on
2 August 2016.

Comprehensive detail in respect of the proposed changes to, and implementation of, the policy is provided in the Directors’ annual remuneration report, included in the Remuneration Report within the Annual Report.