32 / 136
Washington H. Soul Pattinson and Company Limited
Annual Report 2016
30
Directors' Report
– Remuneration Report
1. KMP included in this report
Non-executive Directors
Mr Robert D Millner
Chairman
Mr Michael J Hawker
Mr Warwick M Negus
Mr Thomas C D Millner
Mr Robert GWestphal
Mr David E Wills
Executive Directors
Mr Todd J Barlow
Managing Director and Chief Executive Officer from 14 October 2015,
formerly Chief Executive Officer
Ms Melinda R Roderick
Finance Director and Chief Financial Officer
Other key management personnel of the Parent Company and Consolidated Entity
Mr Ian D Bloodworth
Company Secretary
Key management personnel of the Consolidated Entity
Mr Shane O Stephan
Managing Director, New Hope
Mr Bruce D Denney
Chief Operating Officer, New Hope to 18 December 2015
Mr Andrew L Boyd
Chief Operating Officer, New Hope from 21 December 2015
Mr Matthew J Busch
Chief Financial Officer, New Hope
2. Remuneration policy and framework
Remuneration Governance
The Remuneration Committee of WHSP consists of Non-executive Directors. The Committee’s role is to make
recommendations to the full Board on remuneration matters and other terms of employment for the Executive
Directors, senior executives and Non-executive Directors.
The Remuneration Committee ensures that remuneration levels for Directors and senior executives are competi-
tively set to attract and retain qualified and experienced personnel.
The Remuneration Committee is authorised by the Board to obtain independent professional advice on the
appropriateness of remuneration packages if deemed necessary. Such advice was received during the year, refer
to page 45 of this report for further information.
New Hope has its own Remuneration Committee which reports to the Board of New Hope.
Non-executive Directors
Board policy is to remunerate Non-executive Directors at comparable market rates. Remuneration levels are
reviewed annually by the Remuneration Committee and are not subject to performance based incentives.
Executive Directors and Senior Executives
Parent Company
Remuneration levels are reviewed annually by the Remuneration Committee to reflect individual performance,
the overall performance of the Parent Company and Consolidated Entity and prevailing employment market
conditions.
The Executive Directors and Company Secretary of the Parent Company are remunerated by way of fixed
remuneration, STIs and LTIs. Annual STIs are set in order to drive performance without encouraging undue risk
taking. LTIs are assessed over a three and/or four year period and are designed to promote long-term stability in
shareholder returns.
The total value of each remuneration package is approved by the Remuneration Committee based on data
obtained from external sources.