NED fees and Board work rate
The Executive Remuneration Reporter
Transurban’s Board increased the fees paid to the Board Chair and to the Committees during FY15. It reasoned the increase was justified by reference not only to the market rate, but also by an increase in workload. One way to check this argument is to look at Board Work Rate. Given there isn’t a magic number of Board or Committee meetings that must occur in any given year, you first need to establish the company’s usual rhythm of meetings. Having done that by looking at a few annual reports, you can then gauge an increase in workload. The attached document sets out Transurban’s Board work rate over five years. The workload in FY14 was a temporary spike that wasn’t sustained in FY2015. Understanding Board Work Rate puts the rationale for a fee increase into context…a Group specific context, as opposed to ‘the market’. Read more about Board Work Rate (VIEW LINK) and how Macquarie Group could justify its recent NED fee increase on work rate (VIEW LINK). Transurban Group’s 2015 AGM is scheduled for Monday 12 October 2015.
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With a background in human resources, executive search and corporate law, Kym Sheehan brings unique perspectives on corporate governance and meeting resolutions to her work for The Executive Remuneration Reporter. The Executive Remuneration...
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With a background in human resources, executive search and corporate law, Kym Sheehan brings unique perspectives on corporate governance and meeting resolutions to her work for The Executive Remuneration Reporter. The Executive Remuneration...
Expertise
No areas of expertise