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Membership

The committee comprises at least three members, all independent non-executive directors. The quorum is any two members of the committee.

Kevin Beeston - Chairman
Lance Browne
Terry Gateley
John O'Shea – Secretary

Meetings

The committee meets at least four times per year. The committee consults with the Chairman and the Chief Executive and engages relevant external consultants to advise the committee on remuneration benchmarks and other specific issues. The Company Secretary provides advice and guidance on statutory, regulatory and governance requirements.

Principal responsibilities

• to set the policy for the remuneration of the executive directors, the Chairman and the Company Secretary.
• to determine all aspects of the packages and service contracts of the executive directors and Company Secretary (including salaries, benefits in kind, performance related remuneration and pension arrangements) and to set the Chairman's remuneration.
• to review the remuneration of the next most senior level of management below executive director level.
• to decide on the balance between performance related elements of remuneration and other forms of remuneration and to set the structure, potential value and targets for performance related incentives, asking the Board to seek shareholder approval as appropriate in relation to long term incentive arrangements.
• to set the policy for dealing with the termination of employment of executive directors and implement it through appropriate contractual provisions and the exercise of control over payments made on termination.
• to monitor directors' expenses and the policy on approval of expenses.

To download a copy of the Remuneration committee policy in Acrobat PDF format please select your desired language below.