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IOOF | <strong>annual</strong> <strong>report</strong> <strong>2011</strong><br />

1. Remuneration and Nominations Committee<br />

Committee members<br />

Mr Ian Blair (Chairman)<br />

Mr Ian Griffiths<br />

Mr George Venardos<br />

Dr Roger Sexton<br />

Role of the Committee<br />

The role of the Remuneration and Nominations Committee is to ensure that a coherent reward<br />

framework is in place within the Group. This framework considers the adequacy of remuneration<br />

policy and practices and includes:<br />

a Determination of Managing Director and Senior Executive remuneration arrangements;<br />

b Remuneration policy and structures applicable to Non-Executive Directors;<br />

c Ensuring that succession planning and development plans are in place for Senior Executives;<br />

d On-going review and monitoring of short term and long term incentive schemes;<br />

e Assessment of Managing Directors’ performance against company performance;<br />

f Industrial agreements and the overall compensation arrangements of the Group; and<br />

g Ongoing review of the composition, skill base and performance of the Non-executive<br />

Director component of the Board.<br />

2. Key management personnel<br />

The purpose of the remuneration <strong>report</strong> is to set out the remuneration arrangements for Key Management Personnel (KMP) and the<br />

five most highly paid senior executives of the Group in accordance with AASB 124 Related Party Disclosures and section 300A of the<br />

Corporations Act 2001.<br />

The information provided in this remuneration <strong>report</strong> has been audited as required by section 308(3C) of the Corporations Act 2001<br />

unless otherwise stated.<br />

Name<br />

Position<br />

Non-Executive Directors<br />

Mr Ian Blair<br />

Chairman<br />

Mr Ian Griffiths<br />

Non-Executive Director<br />

Ms Jane Harvey<br />

Non-Executive Director<br />

Mr James Pfeiffer Non-Executive Director (retired 30 June <strong>2011</strong>)<br />

Dr Roger Sexton<br />

Non-Executive Director<br />

Mr George Venardos<br />

Non-Executive Director<br />

Executive Director<br />

Mr Christopher Kelaher<br />

Managing Director<br />

Senior Executives<br />

Mr Stuart Abley<br />

Head of Consultum Financial Services<br />

Mr Michael Carter<br />

Head of Advice Division<br />

Mr David Coulter<br />

Chief Financial Officer<br />

Mr Stephen Merlicek<br />

Chief Investment Officer<br />

Mr Renato Mota<br />

General Manager Distribution<br />

Mr Gary Riordan<br />

Group General Counsel & General Manager Trustee Services<br />

Other Specified Executives (1)<br />

Mr Anthony Patterson<br />

Managing Director – Perennial Investment Partners Ltd<br />

Mr Karl Morris<br />

Executive Chairman of Ord Minnett Group (70% owned subsidiary)<br />

Mr Tim Gunning<br />

Chief Executive Officer of Ord Minnett Group (70% owned subsidiary)<br />

(1) Remuneration <strong>report</strong> disclosures include key management personnel and the five most highly remunerated executives. Other specified executives, as set out in the<br />

table above, are not considered key management personnel. Accordingly these employees have not been included in key management personnel disclosures in<br />

note 33 of the financial <strong>report</strong>.<br />

page 29

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