Principal Duties

The principal duties of the Committee are to:

  • Determine and keep under review the Remuneration Policy to apply to the Executive Directors and the broad framework of the policy that applies to other senior Executives
  • Within the terms of the agreed policy, and in consultation with the Chairman and (except in relation to his own remuneration) the Chief Executive, agree the remuneration for the Chairman and the other Executive Directors, and having oversight of the remuneration of members of the Executive Board, including the annual pay review, and setting targets under the annual bonus and LTIP award
  • Approve awards to be made under the Company’s share plans
  • Appoint and setting the terms of reference for any Remuneration consultants, and receiving their reports and advice
  • Engage with shareholders and colleagues in respect of executive remuneration
  • Ensure that all relevant reporting requirements in respect of executive remuneration are complied with.

No member of the Committee ever participates in a discussion concerning his or her own remuneration

The full terms of reference of the Committee can be found here: 

Principal activities in the Financial Year to 1 July 2017

  • Shareholder consultation in advance of presentation of a revised Remuneration Policy for approval at the AGM
  • Approval of FY17 remuneration for the Executive Directors, to include the annual salary increase, targets applicable to the FY17 annual bonus, and the award to be made under the LTIP
  • Approval of awards to be made to Executives and senior management under the LTIP
  • Approval of the annual sharesave award
  • Adoption of a policy on how exceptional items in the accounts should be treated when applying financial targets under the annual bonus and the LTIP
  • (After the year end) – agreement of the severance terms to be offered to John Browett ( CEO until 29 August 2017).

Committee Membership

The following Directors served on the Remuneration Committee during the Financial year to 1 July 2017:

Member Period from: To:
William Reeve 1 July 2015 To date
Simon Emeny 25 June 2007 21 November 2017
Liz Doherty 1 May 2013 To date
Andy Harrison 1 September 2014 To date
Peter Ruis 10 September 2015 To date

The Company Secretary acts as secretary to the Committee.

Committee Meetings in the Financial Year to 1 July 2017

Five meetings were held in the 2016-17 financial year and members’ attendance was as shown in the table below.

Member Meetings attended:
Simon Emeny (Chair) 5
Liz Doherty 5
Andy Harrison 5
William Reeve 5
Peter Ruis 5