Composition
Consists of at least 4 INEDs
Major roles and functions
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To formulate the remuneration structure and policy with respect to all Group employees and implement the approved policy
- To review and approve the remuneration of the Chief Executive, senior management, members of the Management Committee, senior direct-reports to the Chief Executive and any proposed new hire whose total remuneration may exceed the threshold set by the committee from time to time
- To make proposals to the Board regarding the remuneration of Non-executive Directors
- To review the terms of and design of performance related incentives and make recommendation on the performance related payments or annual bonuses to the Chief Executive, senior management and other relevant employees
- To review the framework and criteria for assessing employee performance and review the actual performance of the Group against performance targets and conditions
Operating mode
Meet at least 3 times every year with additional meetings as the work demands
Remuneration Committee Report
The work done during each financial year is summarised in the Remuneration Committee Report as contained in the annual report