The Remuneration Committee
The members of the Remuneration Committee are Bob Scott (Chairman), Colin Buchan, Jim Currie, Janis Kong, Sir Tom McKillop and Peter Sutherland. The members of the Remuneration Committee comprise independent non-executive directors, together with the Chairman of the Board.
During the year, the Remuneration Committee received advice from Watson Wyatt and Mercer Human Resource Consulting on matters relating to directors’ remuneration in the UK (Watson Wyatt) and US (Mercer), together with advice from the Group Director, Human Resources and the Group Secretary and General Counsel on general remuneration matters. In addition, the Remuneration Committee has taken account of the views of the Chairman of the Board (who was appointed as a member of the Remuneration Committee in September 2006) and the Group Chief Executive on performance assessment of the executive directors.
In addition to advising the Remuneration Committee, Watson Wyatt provided professional services in the ordinary course of business, including actuarial advice and benefits administration services to subsidiaries of the Group and investment consulting and actuarial advice to the trustees of some of the Group’s pension funds. Mercer Human Resource Consulting provided advice and support in connection with a range of benefits, pension actuarial and investment matters.
© 2007