Remuneration Report
This report details the nature and amount of remuneration for each director of Aspermont Limited and for the executives receiving the highest remuneration.
The board is responsible for determining the remuneration policies and packages applicable to the board members and senior executives of the company. The broad remuneration policy is to ensure that the remuneration package properly reflects the person’s duties, responsibilities, level of performance and that the remuneration is competitive in attracting, retaining and motivating people of the highest quality.
The policy is to remunerate non-executive directors at market rates for comparable companies for time, commitment and responsibilities. The directors and executives receive a superannuation guarantee contribution required by the government, which is currently 9%, and do not receive any other retirement benefits.
As part of each executive’s remuneration there is a performance based component consisting of key performance indicators (KPI’s). The KPI’s are set annually and cover financial, management and strategic and corporate items. The intention of this policy is to facilitate goal congruence between executives with that of the business and shareholders. The board may, however, exercise its discretion in relation to approving incentives, bonuses and options. To align directors’ and executives’ interests with shareholder interests, the directors and executives are encouraged to hold shares in the company.
Details of the nature and amount of each element of the emoluments of each director of the company and three named officers of the consolidated entity receiving the highest emolument are detailed in Note 21 to the financial statements.
This report details the nature and amount of remuneration for each director of Aspermont Limited and for the executives receiving the highest remuneration.
The board is responsible for determining the remuneration policies and packages applicable to the board members and senior executives of the company. The broad remuneration policy is to ensure that the remuneration package properly reflects the person’s duties, responsibilities, level of performance and that the remuneration is competitive in attracting, retaining and motivating people of the highest quality.
The policy is to remunerate non-executive directors at market rates for comparable companies for time, commitment and responsibilities. The directors and executives receive a superannuation guarantee contribution required by the government, which is currently 9%, and do not receive any other retirement benefits.
As part of each executive’s remuneration there is a performance based component consisting of key performance indicators (KPI’s). The KPI’s are set annually and cover financial, management and strategic and corporate items. The intention of this policy is to facilitate goal congruence between executives with that of the business and shareholders. The board may, however, exercise its discretion in relation to approving incentives, bonuses and options. To align directors’ and executives’ interests with shareholder interests, the directors and executives are encouraged to hold shares in the company.
Details of the nature and amount of each element of the emoluments of each director of the company and three named officers of the consolidated entity receiving the highest emolument are detailed in Note 21 to the financial statements.