Home' Huon Aquaculture : 2015 Annual Report Contents Directors’ Report
Huon Aquaculture Group Limited
KEY MANAGEMENT PERSONNEL (KMP)
The table below outlines the KMP for the financial year ended 30 June 2015 unless other wise indicated.
Peter Bender (Chief Executive Officer & Managing Director)
Frances Bender (Executive Director)
Peter Margin (Chairman & Non-Executive Director)
Appointed 5th August 2014
Neil Kearney (Non-Executive Director)
Appointed 5th August 2014
Simon Lester (Non-Executive Director)
Appointed 4th August 2014
Philip Wiese (Deputy Chief Executive Officer)
Tom Haselgrove (Chief Financial Officer & Company Secretar y)
Huon’s Remuneration Policy is reviewed annually which may result in changes being implemented for this period. Fur ther information on
the Company’s Remuneration Policy can be accessed at http://investors.huonaqua.com.au/investors/?page=Corporate-Governance
Remuneration and Nomination Committee (RNC)
The Remuneration and Nomination Committee (RNC) comprises of two independent NEDs (including the Chairman), one non-independent
NED, and the DCEO (who attends by invitation only). The RNC has the responsibility for delivering remuneration recommendations to
the Board to ensure that the Company is adopting appropriate and coherent remuneration policies that will attract, motivate and retain
qualified and experienced KMP of the highest calibre.
The Board reviews and, where appropriate, approves the remuneration arrangements of the KMP after considering the recommendations
of the RNC (including awards made under the shor t term incentive (STI) plans and long term incentive (LTI) plans). The Board also sets
the combined remuneration pool for NEDs which is subject to shareholder approval. The RNC approves the level of the Consolidated
Group’s STI plan pool, having regard to recommendations made by the CEO. The RNC meets throughout the year and the CEO
attends these meetings (by invitation only) when management input is required. The CEO is not present during discussions relating
to his own remuneration.
The RNC reviews the per formance of KMP and reviews assessment processes to ensure alignment of assessment towards the
execution of the Company’s Controlled Growth Strategy. The RNC’s Char ter can be viewed at; http://investors.huonaqua.com.au/
Use of Remuneration Consultants
The Company sought advice from Pricewaterhouse Coopers in relation to the development of appropriate incentive plans for KMP
and Senior Management during the financial year ending 30 June 2015.
KMP REMUNERATION ARRANGEMENTS
Remuneration Principles and Strategy (RPS)
Huon’s KMP Remuneration Strategy is designed to attract, motivate and retain qualified and experienced KMP and align the interests
of KMP with Huon’s shareholders. Huon’s objective is to build long-term shareholder value by continuing to be a recognised leader
in the aquaculture industry though sustained growth and continuous improvement as a Tasmanian producer of world class salmon.
Huon sees the retention of KMP as crucial to achieving this objective.
In the financial year ending 30 June 2015, the KMP Remuneration Structure (not including the NEDs) comprised of market competitive
fixed and variable remuneration including STI and LTI plans. The NEDs Remuneration Structure is a separate and distinct framework
in accordance with best practice corporate governance and is detailed in a separate section of this Remuneration Repor t.
(PART 1) Aligning interests of KMP with shareholders
Huon’s remuneration framework incorporates at risk components through STI and LTI plans with payment of incentives under these plans
being based on per formance. Per formance is assessed against a suite of per formance targets relevant to the success of the Controlled
Growth Strategy including sustained growth in shareholder value.
(PART 2) Attract, motivate and retain high performing KMP
Huon’s remuneration strategy is geared to reinforce long-term KMP retention that drives a consistently high, multi-year, per formance focus
with sustainable growth in shareholder value.
Links Archive Navigation Previous Page Next Page