Are the rewards for Non-Executive Directors appropriate in
your organisation, both in terms of levels of pay and the form that
remuneration takes?
The Irish Association of Investment Managers (IAIM) in their review
of corporate governance in 2001 stated:
"The IAIM believes that the remuneration of Non-Executive Directors
should be appropriate to the very onerous responsibilities which
they bear."
Levels of reward should be commensurate with the responsibilities
of a Non-Executive Director. However, whilst the Irish Stock Exchange
requires the disclosure of individual Non-Executive Director remuneration
figures, little information is available on how Non-Executive Director
remuneration is determined.
The PricewaterhouseCoopers Reward team is delighted to report the
findings of the second in a series of 'Snapshot Surveys'. The Non-Executive
Directors' Pay survey provides organisations with remuneration data
on Chairperson and Non-Executive Directors in Irish plcs and non-plcs,
across a variety of sectors. Twenty-one organisations participated
in the survey.
Remuneration data is summarised and presented in tabular form,
showing the standard annual fees and the fees offered to the Chairperson
and Non-Executive Directors for additional responsibilities such
as Remuneration, Audit and Nomination Committee work.
The corresponding approximate annual hours, and latest and planned
percentage increase statistics are also presented. In addition,
information is provided on remuneration policy: who and how remuneration
levels are set for the Chairperson and the Non-Executive Directors.
The cost of the report is €195 (plus VAT).
To order a copy, please contact:
Leanne Speake
Tel: + 353 1 792 6552; or
Email: leanne.speake@ie.pwc.com.
