Non-Executive Directors' Pay - 2003 Survey

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.