Holiday Inn 2015 Annual Report Download - page 71

Download and view the complete annual report

Please find page 71 of the 2015 Holiday Inn annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 184

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184

Changes to Directors’ remuneration
Whilst there are no changes to the DR Policy itself for 2016,
we are making a few small adjustments in Policy implementation.
The APP targets for 2013 to 2015 related to EBIT (70%), Guest
HeartBeat (20%) and Employee Engagement (10%). For 2016,
Employee Engagement will be replaced with IHG’s personal
performance measure – Overall Performance Rating (OPR) – which
measures an individual’s contribution to the business and the results.
Employee Engagement will remain an important measure within
personal performance and operational teams’ targets. Going forward,
we have also decided to limit the grant of LTIP awards to the most
senior IHG executives – currently 49 employees in total.
Changes to the Board – Tracy Robbins
As announced on 14 January 2016, Tracy Robbins stepped down from
the role of Executive Vice President, Human Resources, and from
the Board, on 15 January 2016 due to health reasons. Tracy has made
a substantial contribution to IHG over the years, playing an important
role in IHG’s development and successes.
Tracy’s remuneration will be in line with her contract and within
the approved DR Policy. Tracy will be treated as a good leaver and
the arrangements reflect her circumstances. We have included an
overview of these arrangements on pages 76 and 77. Details of
payments made to Tracy in 2016 and following years, and the related
financial effect of applying the agreed discretion, will be disclosed
in full in the relevant future reports.
Kirk Kinsell left the Board and IHG on 13 February 2015. Full details
were disclosed in last year’s report.
About this report
To simplify and shorten this report, we have included an introductory
‘At a glance’ section to give a snapshot of key aspects of Directors’
remuneration for 2015 and its link to business performance and
strategy. The Annual Report on Directors’ Remuneration contains the
detailed disclosures which are prescribed by legislation or regulation.
The full DR Policy is available at www.ihgplc.com/investors under
corporate governance and was approved at the AGM on 2 May 2014.
How to use this report
As in prior years, within the 2015 Directors’ Remuneration
Report we have used colour coding to denote different elements
of remuneration. The colours used and the corresponding
remuneration elements are:
Salary
Benefits
Pension benefit
APP cash
APP deferred shares
LTIP
Audited information
Content contained within a tinted panel highlighted with
an ‘Audited’ tab, indicates that all the information within
the panel is audited.
Audited
Conclusion
The Annual Report on Directors’ Remuneration and the Remuneration
Committee Chairman’s statement are subject to an advisory vote at
the 2016 AGM.
This Directors’ Remuneration Report was approved by the Board
on 22 February 2016.
The Board recommends this Directors’ Remuneration Report
to shareholders.
Luke Mayhew
Chairman of the Remuneration Committee
22 February 2016
STRATEGIC REPORT GOVERNANCE GROUP FINANCIAL STATEMENTS ADDITIONAL INFORMATIONPARENT COMPANY FINANCIAL STATEMENTS
69IHG Annual Report and Form 20-F 2015