Holiday Inn 2015 Annual Report Download - page 161

Executive Committee members’ shareholdings
Shares held by Executive Committee members (excluding the Executive Directors) as at 31 December
Number of shares
held outright
APP
deferred share awards
LTIP
share awards (unvested)
Total
number of shares held
Executive Committee member 2015 2014 2015 2014 2015 2014 2015 2014
Keith Barr 22,522 22,522 29,557 29,829 96,044 106,630 148,123 158,981
Angela Brav 32,724 32,724 25,569 24,473 86,969 97,462 145,262 154,659
Elie Maalouf –n/a –n/a 73,662 n/a 73,622 n/a
Kenneth Macpherson 7,472 7,472 31,279 8,330 73,861 64,713 112,612 80,515
Eric Pearson –1,998 28,748 25,021 90,087 102,940 118,835 129,959
Jan Smits 30,476 30,476 28,742 32,037 86,177 104,445 145,395 166,958
George Turner 17,975 –26,047 30,896 80,914 95,399 124,936 126,295
Details of the shares held by the Executive Directors can be found on page 75. These shareholdings include all beneficial interests and those held
by Executive Committee members’ spouses and other connected persons.
For further details on the APP deferred share award and for the LTIP share award, see pages 70, 72 and 73.
Executive Directors’ benefits upon termination of oce
All current Executive Directors have a rolling service contract with a notice period from the Group of 12 months. As an alternative, the Group may,
at its discretion, pay in lieu of that notice. Neither notice nor a payment in lieu of notice will be given in the event of gross misconduct.
Payment in lieu of notice could potentially include up to 12 months’ salary and the cash equivalent of 12 months’ pension contributions, and other
contractual benefits. Where possible, the Group will seek to ensure that, where a leaver mitigates their losses by, for example, finding new
employment, there will accordingly be a corresponding reduction in compensation payable for loss of office.
Further details on the policy for determination of termination payments are included in the Directors’ Remuneration Policy, which is available
on the Company’s website at www.ihgplc.com/investors under corporate governance/directors’ remuneration policy.
The Group is required to comply with existing and changing
regulations and societal expectations across numerous countries,
territories and jurisdictions
Government regulations affect countless aspects of the Group’s
business ranging from corporate governance, health and safety, the
environment, bribery and corruption, employment law and diversity,
disability access, data privacy and information protection, financial,
accounting and tax. Regulatory changes may require significant
changes in the way the business operates and may inhibit the Group’s
strategy, including the markets the Group operates in, brand protection,
and use or transmittal of personal data. If the Group fails to comply with
existing or changing regulations, the Group may be subject to fines,
prosecution, loss of licence to operate or reputational damage.
The reputation of the Group and the value of its brands are influenced by
a wide variety of factors, including the perception of stakeholder groups
such as guests, owners, suppliers and communities in which the Group
operates. The social and environmental impacts of its business are
under increasing scrutiny, and the Group is exposed to the risk of
damage to its reputation if it fails to (or fails to influence its business
partners to) undertake responsible practices and engage in ethical
behaviour, or fails to comply with relevant regulatory requirements.
The Group may face difficulties insuring its business
Historically, the Group has maintained insurance at levels determined
to be appropriate in light of the cost of cover and the risk profile of the
business. However, forces beyond the Group’s control, including
market forces, may limit the scope of coverage the Group can obtain
and the Group’s ability to obtain coverage at reasonable rates. Other
forces beyond the Group’s control, such as terrorist attacks or natural
disasters, may be uninsurable or simply too expensive to insure.
Inadequate or insufficient insurance could expose the Group to large
claims or could result in the loss of capital invested in properties,
as well as the anticipated future revenue from properties.
STRATEGIC REPORT GOVERNANCE GROUP FINANCIAL STATEMENTS ADDITIONAL INFORMATIONPARENT COMPANY FINANCIAL STATEMENTS
159IHG Annual Report and Form 20-F 2015