“Does your Board or a Board Committee review the policy for NED, Chairman and CEO expenses annually and is the implementation of that policy reviewed by the Audit Committee?”
No specific policy, NED expenses reviewed and authorised by the Company Secretary. Total expenses considered as part of the normal budget process.
FTSE 100said
Amount of expenses claimed by directors is reviewed annually by the Audit Committee but the policy itself is not reviewed on an annual basis.
FTSE 100said
Policy for NEDs was reviewed in 2011. No specific policy for chairman and CEO, except covered by company’s T&E policy. Not formally reviewed annually, nor are the amounts, by any committee. Budget for Board’s expenditure is reviewed, but as part of the budgetary process not by the Board.
FTSE 250said
We apply the same expenses policy to the NEDs as we do all other emloyees, save that they are required to be signed by the chairman or, in the case of the chairman, the SID. Reimbursement is then through the payroll.
Ditto the CEO, save that his expenses must be signed by the chairman.
FTSE 250said
Directors’ expenses are reviewed by the Remco annually. The expenses policy is the same one that applies to all employees.
FTSE 250said
Our Audit Committee used to review annually but this was dropped 5 years ago as being unnecessary.
FTSE 100said
No. We don’t currently do this.
FTSE 250said
Directors’ expenses for the previous year are summarised in a paper which goes to the Remuneration Committee once a year
No specific policy, NED expenses reviewed and authorised by the Company Secretary. Total expenses considered as part of the normal budget process.
Amount of expenses claimed by directors is reviewed annually by the Audit Committee but the policy itself is not reviewed on an annual basis.
Policy for NEDs was reviewed in 2011. No specific policy for chairman and CEO, except covered by company’s T&E policy.
Not formally reviewed annually, nor are the amounts, by any committee.
Budget for Board’s expenditure is reviewed, but as part of the budgetary process not by the Board.
We apply the same expenses policy to the NEDs as we do all other emloyees, save that they are required to be signed by the chairman or, in the case of the chairman, the SID. Reimbursement is then through the payroll.
Ditto the CEO, save that his expenses must be signed by the chairman.
Directors’ expenses are reviewed by the Remco annually. The expenses policy is the same one that applies to all employees.
Our Audit Committee used to review annually but this was dropped 5 years ago as being unnecessary.
No. We don’t currently do this.
Directors’ expenses for the previous year are summarised in a paper which goes to the Remuneration Committee once a year
Not at the moment.
At present I don’t think that we do