EasyJet 2014 Annual Report Download - page 61

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www.easyJet.com 59
Governance
Moving forward
After eight years as easyJet’s Director of Safety and
Security, Dave Prior decided to step down from this
role at the end of October 2014. He will, however,
continue in a new safety role as Head of Safety Assurance
and Sustainability. Geoff Want, who was the Safety
Committee’s independent safety expert, joined easyJet
in October 2014 as the new Director of Safety and Security.
Dr. Andreas Bierwirth was appointed to the Committee
on 13 November, and the Committee will benefit from his
extensive experience in the European airline industry.
Professor Rigas Doganis
On behalf of the Safety Committee
Key responsibilities
To assess and make recommendations to the Board on
the policies for remuneration for each of the Executive
Directors and the Chairman, as well as the level and
structure of remuneration for senior management.
Highlights of the 2014 financial year
• The Committee reviewed and will be putting forward a
revised Long Term Incentive Plan for shareholder approval
at the Company’s 2015 Annual General Meeting as part
of the remuneration policy.
• The Committee reviewed other share scheme matters,
including the share purchase monetary limits for the
HMRC-approved all-employee Save As You Earn and
Buy As You Earn plans, and the share schemes for
Swiss employees.
A detailed report to the shareholders from the Committee
on behalf of the Board which, amongst other things,
includes a description of the main activities of the
Committee during the year, is contained in the Directors’
remuneration report on pages 71 to 88.
Additional disclosures under the UK Corporate
Governance Code
• Hewitt New Bridge Street (NBS) (an AON Company)
has been appointed as easyJet’s remuneration
consultants. NBS is a member of the Remuneration
Consultants Group and complies with its code of
conduct. NBS has no other connection with the
Company. However, a sister company in the AON Group
provides pension and flexible benefits administration
services to the Company following the acquisition of
our existing provider, Lorica Consulting Holdings Limited,
by AON in June 2014.
• Shareholders are required to approve all new long-term
incentive plans and significant changes to existing plans.
Consequently, the Company will be seeking shareholder
approval for the proposed Long Term Incentive Plan at
the 2015 Annual General Meeting. Further details can be
found in the Directors’ remuneration report.
Charles Gurassa
On behalf of the Remuneration Committee
“ The Remuneration Committee’s focus during the
year has been on putting forward a revised Long
Term Incentive Plan in its remuneration policy for
shareholder approval at the Company’s 2015 Annual
General Meeting. The remuneration policy has been
designed to be straightforward and transparent, in
alignment with the Company’s principle of having
a simple and cost-effective approach.”
Membership as at 30 September 2014 (all members
are independent Non-Executive Directors)
• Charles Gurassa (Chair)
• David Bennett (stepped down from Committee
on 1 October 2014)
• John Browett (appointed to Committee on
1 July 2014)
• François Rubichon (appointed to Committee on
22 July 2014)
• Professor Rigas Doganis (stepping down from
Committee on 1 December 2014)
Andy Martin stepped down from the Committee
on 1 July 2014.
Meetings held in the 2014
financial year: 3
REMUNERATION
COMMITTEE
Charles Gurassa
Chair of the
Remuneration Committee