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BLUE LABEL INTEGRATED ANNUAL REPORT 2015
The financial criteria will be split as to 60% on the
performance of the subsidiary which employs the
person concerned (where applicable) and 20% on
Group performance.
•
•
Financial per subsidiary (60%)
– If growth in core headline earnings per share
is less than CPI, no element of the 60% will
be paid.
– If growth in core headline earnings per share is
equal to CPI plus 10%, then 70% of the 60%
will be paid in full or pro rata, as the case
may be.
– If growth in core headline earnings per share
exceeds CPI plus 10%, then an additional
30% of the 60% will be paid.
•
•
Group performance (20%)
– If growth in core headline earnings per share
is less than CPI, no element of the 20% will
be paid.
– If growth in core headline earnings per share is
equal to CPI plus 10%, then 70% of the 20%
will be paid, either in full or pro rata, as the
case may be.
– If growth in core headline earnings per share
exceeds CPI plus 10%, then an additional
30% of the 20% will be paid.
•
•
Non-financial (20%)
The following criteria will be taken into account
in determining qualification for the 20%: the
achievement of agreed transformation targets,
progress in delivering its growth strategy, the
roll-out of its transactional footprint, the rate and
level of progress made in respect of
organisational development and succession
planning, together with the application of
leadership qualities, corporate governance best
practices and risk mitigation.
Forfeitable share scheme
The forfeitable share scheme vesting criteria for the
2012 share scheme allocation was as follows:
•
•
40% for retention (three years from date of
award); and
also achieved. The achievement of these targets
resulted in each Joint Chief Executive Officer being
paid a bonus of 96% of annual salary and the
Financial Director and Chief Operating Officer each
receiving a bonus of 56% of annual salary.
The bonus parameters for Executive Directors and
Senior Management for the 2016 financial year
have been determined as follows:
1. Executive Directors
Joint CEOs up to 120% of annual salary, Financial
Director and Chief Operating Officer up to 70% of
annual salary, of which 80% will apply to financial
criteria and 20% to non-financial criteria.
•
•
Financial (80%)
– If growth in core headline earnings per share
is less than CPI, no element of the 80% will
be paid.
– If growth in core headline earnings per share is
equal to CPI plus 10%, then 70% of the 80%
will be paid, either in full or pro rata, as the
case may be.
– If growth in core headline earnings per share
exceeds CPI plus 10%, then an additional
30% of the 80% will be paid.
•
•
Non-financial (20%)
The following criteria will be taken into account
in determining qualification for the 20%: the
achievement of agreed transformation targets,
progress in delivering the Group’s growth
strategy, the roll-out of the Group’s transactional
footprint, the rate and level of progress made in
respect of organisational development and
succession planning, together with the
application of leadership qualities, corporate
governance best practices and risk mitigation.
2. Executive Directors and Senior Management
A maximum of 50% of annual salary will be paid, of
which 80% will apply to financial criteria and 20%
to non-financial criteria.
REMUNERATION REPORT
CONTINUED