59 / 220
From time to time, independent advice on market information and remuneration trends is provided to the RNC by external
remuneration consultants. Blue Label’s Human Resources Department also assists the committee by providing supporting
information and documentation relating to matters for its consideration, including the assessment of proposed changes to
legislation, such as determining the employer’s responsibility to provide retirement funding for staff.
Ad hoc
consultations
are held with key institutional shareholders for their comment and input.
Additional governance principles applicable to the composition and principal activities of the RNC are fully set out on page 37
(Governance Framework – Board Committees) of the integrated annual report.
The Remuneration and Nomination Committee concluded that the remuneration policy has achieved its desired objectives
and addresses fair and reasonable remuneration for executive management in the context of employee remuneration.
The Remuneration Committee has the right to exercise its discretion from time to time in the awarding of all incentive
bonuses as well as the awarding and vesting of shares pertaining to the forfeitable share scheme. The exercising of this right
only occurs in exceptional circumstances in which the committee believes that a change in policy is merited.
REWARD EMPLOYEES IN FAIR AND EQUITABLE WAY
X
ENSURE A CULTURE OF HIGH PERFORMANCE
Fixed monthly
salary and benefits
X
Median for
relevant market
Incentive bonus
X
Variable pay
element to reward
financial, strategic
and personal
performance
Forfeitable share scheme
X
Based on percentage of
total annualised fixed
remuneration
X
Rewards sustained
long-term performance
X
Aligns Executive and
Senior Management
interests with those of
shareholders
Outperformance bonus
X
Additional share allocation
to Executives
X
Linked to share price
annual growth
X
Rewards contribution to
Group strategy
FIXED REMUNERATION SHORT-TERM INCENTIVES
LONG-TERM INCENTIVES
REMUNERATION DESIGNED TO SUPPORT BUSINESS STRATEGY AND VISION
BLUE LABEL
INTEGRATED ANNUAL REPORT 2017
57
/