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Directors’ Report
(continued)
The amount attributable to each executive’s STI was dependent on the accountabilities of their role and
their impact on the organisation’s performance. For FY2012, STI for target performance ranged from 52%
for the Managing Director to between 22% and 31% for senior executives:
STI
% of cash remuneration (total annual
remuneration excluding LTI)
Target
performance
Stretch
performance
Managing director
B Howson (Managing Director) 52% 55%
Senior executives
H Williams (ED Strategy & Planning) 31% 31%
P Mirams (CFO) 1 0% 0%
R Nuich (CFO) 2 26% 26%
D Rowland (Company Secretary and General Counsel) 3 28% 28%
G Kininmont (GM Finance) 27% 34%
J Moroney (GM Organisational Effectiveness) 23% 23%
E Kavanagh (Chief Information Officer) 22% 22%
1
P Mirams commenced employment on 25 June 2012.
2
R Nuich ceased employment on 1 July 2012.
3
D Rowland was appointed on 11 August 2011.
In FY2012, the Managing Director and Senior Executives who received less than 100% of their target STI
entitlements were Hamish Williams (95%) and John Moroney (76%), based on assessment of performance
against the STI criteria they were set. FY2012 was a record year for the Group in terms of revenue and
operating profit achieved, supported by the successful execution and integration of acquisitions. This
has resulted in high achievement levels by the Managing Director and Senior Executives against their STI
performance criteria. FY2012 STI awards were based on the metrics and weightings as disclosed below.
These targets were set by the Remuneration and Nomination Committee, and align to the Company’s
strategic and business objectives.
Managing
Director
Senior
Executives
Metric
type
Target
Weighting
Metric
Financial 45% Achievement of target operating NPAT will receive
$550,000, with pro-rata payment up to $850,000
to stretch operating NPAT
Financial 39% Achievement of target EPS will receive $100,000,
with pro-rata payment up to $750,000 at stretch
target
16% Strategic metrics relating to business and
organisation development, talent and succession
management, and compliance and risk
management.
Actual
Payout
STI not
Achieved
$650,000 $200,000
$600,000 $150,000
$152,500 $47,500
Financial 41% Achievement of budget $380,000 $Nil
Nonfinancial
Nonfinancial
59% Strategic metrics relating to business and
organisation development, talent and
succession management, and compliance and
risk management.
$445,875 $34,125
These metrics vary with each executive’s role and are established on an annual basis. The assessment of
whether the above criteria are met and the level to which individual bonuses are earned is at the discretion
of the Remuneration and Nomination Committee.
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Automotive Holdings Group