Remuneration report

The Board has delegated authority to the Remuneration Committee for remuneration policy and determining the specific packages for the Chairman and executive directors, and has delegated authority to the Non-Executive Directors’ Fees Committee to agree fees payable to the non-executive directors.

The reports from both these Committees are incorporated into this Remuneration report, together with a report on the remuneration or fees paid to directors and the policy underpinning this.

The Remuneration report is structured as follows:

• Remuneration Committee Report 
• Non-Executive Directors' Fees Committee Report 
• Remuneration reporting:
  • Remuneration strategy, policy and service contracts for executive directors 
  • Chairman's appointment, term and fees 
  • Non-executive directors’ appointment, term and fees
• Tabular information on directors' shareholdings, share-based incentives, emoluments and pensions