Members of the committee
Robert Cathery (Chairman)
Struan Robertson
John Crowle
View the full terms of reference for the remuneration committee
The main responsibilities of the committee are to:
- determine and agree with the board, the framework or broad policy for the remuneration of the company's chairman, chief executive, executive directors, company secretary and such other members of the executive management as it may be designated to consider;
- set and monitor performance criteria for any bonus arrangements operated by the company and its group ensuring that they represent achievable and motivating rewards for appropriate levels of performance and, where appropriate, are justifiable taking into account the company's and its group's overall performance and the corresponding return on shareholders' investment in the same period;
- recommend to the board, the policy for, and scope of pension arrangements for the executive directors and other senior executives taking into account the future liabilities of any recommendation and to detail precisely which elements of the remuneration packages are pensionable;
- review and approve the company's share option and share award schemes (including any long-term co-investment plans), approve proposed option grants or share awards to directors or senior executives, and to set or recommend performance criteria for share awards and
- within the terms of the agreed policy, determine the total individual remuneration package for the company's chairman, executive directors, company secretary and other senior executives including, where appropriate, bonuses, incentive payments and share options or other share awards.
The chief executive is invited to attend meetings of the committee but does not take part in any decision affecting his own remuneration.