We are proud to provide a sustainable, affordable, clean and safe water supply and to manage and treat the waste water returned to us in a way that protects the environment.
The Remuneration Committee comprises three independent non-executive directors in accordance with the requirements of the Combined Code. The Chief Executive Officer also attends Remuneration Committee meetings at the invitation of the Chairman of the Remuneration Committee, to provide advice from time to time, but he has no right of attendance.
The main duties of the Remuneration Committee are:
• reviewing and recommending the remuneration, pension entitlements and other benefits of the executive directors and, as appropriate, other senior executives of the Group; and
• reviewing the operation of share incentive schemes for directors and senior managers and the granting of awards under such schemes.
The Committee continues to receive advice from its remuneration consultants, Hewitt New Bridge Street (“HNBS”) and also from Heidi Mottram (Chief Executive Officer). HNBS has carried out a full review exercise in respect of the remuneration packages offered to senior executives and will continue to assist the Committee in maintaining best practice in relation to remuneration. HNBS do not provide any other services to the Company.
For more detailed information on the functions performed by the Remuneration Committee, please refer to the Remuneration Committee Terms of Reference, and the Directors’ remuneration report in the Annual report and financial statements.