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 practice across the Group.
The independent non-executive directors who serve on the Committee are shown below.
Members of the Committee
|
Member |
From |
To |
| Admiral the Lord Boyce |
5 May 2004 |
To date |
| Fiona Clutterbuck |
15 June 2009 |
To date |
| Raj Rajagopal (chairman) |
1 March 2009 |
To date |
| Rodney Earl Slater |
9 September 2011 |
To date |
| Sir Peter Williams |
6 May 2005 |
8 September 2011 |
Committee meetings are attended by the Group HR director, Alun Griffiths. The chairman, Allan Cook, and the chief executive, Uwe Krueger, also attend meetings at the discretion of the Committee chairman. The company secretary acts as secretary to the Committee. No director, the company secretary or other attendee participates in discussions regarding their own remuneration.
The Committee receives advice from Hewitt New Bridge Street (HNBS) on remuneration policy and structure. HNBS also monitors the Company’s total shareholder return (TSR) performance. Linklaters LLP provides legal advice with respect to share plans. Linklaters also provides other legal services to the Group. The Committee also consults the chief executive, 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.