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Reviewing Board expenses policy

12th July 2012 10 Comments

“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?”

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Comments

  1. FTSE SMALL CAP said

    12th July 2012 at 12:01 am

    No specific policy, NED expenses reviewed and authorised by the Company Secretary. Total expenses considered as part of the normal budget process.

    • FTSE 100 said

      12th July 2012 at 12:01 am

      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 100 said

        12th July 2012 at 12:01 am

        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 250 said

          12th July 2012 at 12:01 am

          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 250 said

            12th July 2012 at 12:00 am

            Directors’ expenses are reviewed by the Remco annually. The expenses policy is the same one that applies to all employees.

            • FTSE 250 said

              12th July 2012 at 12:00 am

              Our Audit Committee used to review annually but this was dropped 5 years ago as being unnecessary.

              • FTSE 100 said

                12th July 2012 at 12:00 am

                No. We don’t currently do this.

                • FTSE 250 said

                  12th July 2012 at 12:00 am

                  Directors’ expenses for the previous year are summarised in a paper which goes to the Remuneration Committee once a year

                  • FTSE 100 said

                    12th July 2012 at 12:00 am

                    Not at the moment.

                    • FTSE 250 said

                      12th July 2012 at 12:00 am

                      At present I don’t think that we do

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