The Astro Group has established a Remuneration Committee. The Remuneration Committee meets annually for the purposes of reviewing and making recommendations to the Board on the level of remuneration of the senior executives and the Directors. The Remuneration Committee endeavours to ensure that the remuneration outcomes strike an appropriate balance between the interests of the Astro Group securityholders, and rewarding, retaining and motivating the senior executives and the Directors.
The Remuneration Committee has adopted a formal Charter which sets out, amongst other things, the role and responsibilities of the Committee. The Charter provides that the Committee’s function is to support and advise the Board in fulfilling its responsibilities to securityholders, employees and other stakeholders by:
- endeavouring to ensure that the Directors and senior management are remunerated fairly and appropriately;
- endeavouring to ensure that the remuneration policies and outcomes strike an appropriate balance between the interests of the Astro Group’s securityholders and rewarding and motivating the Astro Group’s executives and employees in order to secure the long term benefits of their energy and loyalty; and
- endeavouring to ensure that the human resources policies and practices are consistent with and complementary to the strategic direction and objectives of the Astro Group as determined by the Board.
Please click here to access a copy of the REMC Charter.
The Committee is comprised only of Independent Non-Executive Directors, namely Ms Kate McCann (Chairman), Mr Douglas Clemson and Mr Allan McDonald.
The Committee conducts an annual remuneration review of each senior executive and the Non-Executive Directors and provides a report to the Board which includes its recommendation. Further details on the role of the Committee and the 2011 remuneration review are set out in the Remuneration Report in the 2011 Annual Report.