“Do companies send all Remuneration Committee papers to the Committee’s remuneration consultants as a matter of course (regardless of meeting content)?
Do the Remuneration Committee’s remuneration consultants attend all Remuneration Committee meetings as a matter of course (regardless of meeting content)?”
It is my experience that remuneration consultants are kept at arms length and engaged only for specific purposes (eg reviewing remuneration structure, market comparator data, rule changes). Therefore attendance and paper distribution is linked to a specific purpose and not a matter of course. Those matters are relatively infrequent, and the general content of most meetings (individual awards, inclusion/exclusion of individuals in schemes, actual performance against target) do not involve the consultants.
Answer to both is no, not a matter of course, although RemCo would expect to see consultants at least annually at one meeting, and possibly more depending on work being done.
We do not send papers to the advisors as a matter of course but only where the paper relates to a matter on which they have been working. Similarly they would only attend a meeting to speak to a particular matter.
Consultants are very rarely invited to attend the Remco. Normally we ask for papers and give feedback and instructions after the meeting.
we do send the papers to the remuneration advisers as generally they have something to contribute. However, they do not attend all remuneration committee meetings; only those where they have a topic to present, or a discussion in which their input is sought. Of the 4 meetings each year, they may only attend one or two of them..
No and no.
No to both questions.
We do not send Remco papers to our remuneration consultants.
Advice is generally obtained on an ad hoc basis, usually in the form of a written report, in some instances preceded by a meeting with the Remco chairman.
We involve our remuneration consultants once we have discussed agenda and papers internally. We obtain advice on specific issues on the agenda and usually invite them to attend the Remco meeting by phone.
Yes we send papers and minutes to our advisers and yes they attend all Remco meetings.
No we don’t. We do share extracts that are relevant but the minutes contain other things that we regard as confidential to the Company.
Our consultants only attend meetings as required but then we don’t spend a lot of money with them on a regular basis.
The remuneration consultants are invited to all meeting of the committee and receive all meeting papers.
We do not sent any papers to the consultants as a matter of course. Only if requested by the Committee. The consultants only attend by invitation.
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We don’t send anything as a matter of practice. They attend meetings at the invitation of the Chairman when specific items (generally those on which they have advised) are discussed.
We send Remco mintues only. Concultants attend as and when requested.
Yes to both questions.
Yes and yes.
By choice of the RemCo.