Compensation Committee
The Board operates on the principle that all significant matters are dealt with by the full Board. To assist in its deliberations, the Board has established a number of committees which, apart from routine matters, act primarily in a review or advisory capacity. The delegate of such responsibilities to those committees will only occur provided that sufficient systems are in place to ensure that the Board is meeting its responsibilities.
Purpose
The review of matters relating to the remuneration of Executive Directors and senior management, as well as, senior management succession planning. The Committee obtains advice from external remuneration consultants to ensure that the Company's remuneration practices are in line with market conditions.
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Composition
Membership - Four Non-Executive Directors.
Qualifications - All members have sufficient business and financial expertise to act effectively as members of the committee, as determined by the Board.
Chair - The Chairman is nominated by the Board.
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Members
The current members the Compensation Committee are:
Details of members' attendance at committee meetings during the last financial year is contained in the Directors' Report in the Annual Report. View the PDF version of the latest Directors' Report.
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Charter
The Compensation Committee Charter is detailed on page 41 of the 2006 annual report. Click here to download.
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