Principle 8 - Remunerate fairly and responsibly
8.1 Board People & Remuneration Committee
The Board People & Remuneration Committee oversees all aspects of:
- Director and Executive remuneration
- Director, Chief Executive Officer and management succession planning
From 1 July to 24 October 2017, the members of the Board People & Remuneration Committee were:
- John Conde AO, Chair, Non-Executive Director
- Penny Bingham-Hall, Non-Executive Director
- Richard Sheppard, Non-Executive Director (Chair)
From 25 October 2017, Penny Bingham-Hall replaced John Conde as Chair and Nicola Roxon joined as a member, and the Board People & Remuneration Committee now consists of the following members:
- Penny Bingham-Hall, Chair, Non-Executive Director
- Nicola Roxon, Non-Executive Director
- Richard Sheppard, Non-Executive Director
All members of the Committee are independent including the Chair. The Board People & Remuneration Committee met five times during the Reporting Period and each member attended all meetings. The Board People & Remuneration Committee Terms of Reference are available at www.dexus.com/boardcommittees.
The Chief Executive Officer, Chief Financial Officer and Head of People & Communities attend the Board People & Remuneration Committee meeting by invitation.
It is the practice of the Board People & Remuneration Committee to meet without executives for part of each meeting, and non-committee members are not in attendance when their own performance or remuneration is discussed.
Details of the Group’s remuneration framework for Executives, Non-Executive Directors and employees are set out in the Remuneration Report that forms part of the Directors’ Report contained in the 2018 Dexus Annual Report starting on page 24. Policies and practices regarding the remuneration of Non-Executive Directors, Executive Directors and other executives are separately disclosed. There are no schemes for retirement benefits (other than compulsory contributions to superannuation) for Non-Executive Directors.