RWS Annual Report 2022 web - Flipbook - Page 86
Directors’ Remuneration Report (continued)
•
Shareholding guidelines will continue to operate at 200%
of salary for the CEO and 175% of salary for the CFO.
•
The structure and quantum of non-executive director
fees were reviewed by the Board excluding the nonexecutive directors in light of time commitments and
best and market practice. Going forward, the nonexecutive director base fee will increase to £55,000
with an additional £10,000 payable for the SID role
and an additional £10,000 payable for chairing a
committee. No change was made to Andrew Brode’s
Chairman fee (£263,000), and Julie Southern’s fee
as Non-Executive Director was set at £150,000 from
appointment, reflecting her experience and expected
time commitment in the role.
As a Committee, we recognise the need to foster strong
relations with our shareholders and encourage open
dialogue. As such, the Chair of the Remuneration
Committee is available for discourse with institutional
investors concerning the Company’s approach to
remuneration. We look forward to receiving your support
at our forthcoming AGM.
Frances Earl
REMUNERATION COMMITTEE CHAIR
14 December 2022
REMUNERATION POLICY REPORT
This section sets out the Directors’
Remuneration Policy (“Policy”) which
remains unchanged from last year.
In order to deliver the Group’s strategy,
the primary objectives of our Policy are:
• To have a transparent, simple and
effective remuneration structure
which encourages the delivery of
Group targets in accordance with our
business plan.
• To motivate and retain the best
people of the highest calibre by
providing appropriate short- and
long-term variable pay which
is dependent upon challenging
performance conditions.
• To promote the long-term success of
the Group and ensure that our policy
is aligned with the interests of, and
feedback from, our shareholders.
• To have a competitive remuneration
structure which will attract new
appropriately skilled executives to
complement our teams worldwide.
The Remuneration Committee follows
the principles of good corporate
governance in relation to the structure
of its remuneration policy and,
accordingly, takes account of the
QCA Corporate Governance Code as
adopted by the Board.
86
RWS — Annual Report 2022
GOVERNANCE REPORT
