Experian 2011 Annual Report Download - page 76

Download and view the complete annual report

Please find page 76 of the 2011 Experian 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 164

  • 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

74 Experian Annual Report 2011
Report on directors’ remuneration
Remuneration in summary
This section provides a summary of key remuneration arrangements for executive directors. More detail of how these were operated during
the year ended 31 March 2011, and are intended to be operated in future, are provided later in this report.
Summary of annual remuneration earned in 2011
Salary
‘000s
Annual bonus(1)
‘000s
Benefits
‘000s
Total 2011
‘000s
Don Robert US$1,450 US$2,852 US$460 US$4,762
Paul Brooks £475 £934 £39 £1,448
Chris Callero US$930 US$1,829 US$53 US$2,812
1 All directors deferred their entire annual bonus shown above and will be awarded invested shares under the Co-investment Plans in respect of this deferral. Directors will have the
opportunity to earn matching shares, subject to the achievement of performance conditions.
Summary of long-term remuneration awarded in 2011
Shares awarded under Co-investment Plans
Shares awarded under Performance Share Plan(1) Invested shares(2) Matching shares(1)
Don Robert 317,316 306,374 612,748
Paul Brooks 151,515 83,033 287,014
Chris Callero 203,519 196,954 393,908
1 Awards under the Performance Share Plan and matching shares awarded under the Co-investment Plans will only vest to the extent that stretching performance targets are met. These
targets are described later in this report.
2 The directors deferred their entire annual bonus for 2010 and the invested shares shown above were awarded in respect of this deferral.
Summary of proposed remuneration arrangements for the year ending 31 March 2012
The Remuneration Committee (the 'Committee’) reviews remuneration arrangements annually to ensure they remain suitable in the light of
both internal and external factors. This year, the Committee concluded that the key elements of the existing arrangements remained aligned
with the core principles of Experian’s remuneration policy and Experian’s long-term business strategy, and therefore no changes to the
overall structure of the remuneration package were required. The Committee agreed the following key changes for the year ending
31 March 2012:
•Performance targets: in the light of the improving economic conditions in which Experian is operating, the stretch of performance targets
has been increased.
•‘Claw back’: in response to the general increased focus on the ability to ‘claw back’ remuneration which has been paid on the basis of
financial results which subsequently are found to have been misstated, the Committee is introducing two measures:
- vesting of awards made under the Experian Performance Share Plan and matching awards made under the Experian Co-investment
Plans will only occur if the Committee is satisfied that the vesting is not based on financial results that have been materially misstated;
and
- in the event of an executive receiving an annual bonus which is subsequently found to have been based on materially misstated
financial results, bonus opportunity for that executive may be reduced accordingly in the following financial year.
•Salaries: these have been increased in line with salaries for the wider employee population.
“Experian’s remuneration
philosophy is that reward
should be used to drive
long term, sustainable
business performance.”
Roger Davis,
Chairman of the Remuneration Committee