A year earlier, the remuneration
base of independent directors was much lower, which went up in FY16.
Caroline Goodall, chairman of the remuneration
committee, said: "Total annual remuneration
earned by our executive directors for the financial year 2016/17 was significantly less than that earned for the financial year 2015/16.
4 MTD or 88% of the increase in the remuneration
of permanent staff.
It follows a round of shareholder revolts at annual general meetings this year, as scores of investors took umbrage with the remuneration
awards given to top bosses.
Clause 49 states that the board may set up a remuneration
committee to determine on their behalf and on behalf of the shareholders with agreed terms of reference, the company's policy on specific remuneration
packages for executive directors including pension rights and any compensation payment.
To meet this objective, the Government will introduce legislation to put beyond doubt that all loans or debts from a disguised remuneration
scheme will be taxed as earnings if they haven't already been fully taxed or repaid on or before April 5, 2019.
Its findings are included in its report headlined "Benchmarking of remuneration
practices at the European Union level and data on high earners" on its website.
of the NBP president increased 51 per cent in 2015 despite the NBP shares dropped 22 per cent over the same 12-month period.
Clause 49 contains mandatory disclosure requirements related to remuneration
of board of directors of the listed companies, which are as follows:
figures for public service and state sector CEs, at June 30, 2015, were published by the State Services Commission (SSC) last month.
Global Banking News-July 17, 2015--Lloyds names chair for remuneration
the approval of the remuneration