Information not subject to audit
During the financial year to 31 March 2005 the members of the committee were Lord Renwick of Clifton, Lord Fellowes, Mr Morland and Mr Manser. Mr Bible and Mr Kahn joined meetings as observers and also present were the group chief executive, Mr Mackay, and the group secretary, Mr Tonkinson, other than when their own remuneration was discussed.
With effect from 1 August 2004, Lord Renwick stood down as committee chairman, Mr Kahn left the committee and Mr Morland assumed the chair. On 1 April 2005, Lord Renwick left the committee and was replaced by Mr Manzoni, resulting in the committee being fully independent for the new financial year.
The committee deals with the remuneration of the executive directors and other members of the executive committee, as well as approving all grants and awards under the company’s share incentive plans, in accordance with its Terms of Reference approved by the board. Consideration is also given to the company’s group-wide compensation and incentive policies to ensure alignment.
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