Experian 2016 Annual Report Download - page 87

Although Experian plc is incorporated and registered in Jersey, we have drawn up this report in line with Schedule 8 of the UK Large
and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2013, as well as the UK Financial Conduct Authority
Listing Rules and the UK Corporate Governance Code (the ‘Code’). Unless noted otherwise, all of the sections below are audited by
the Company’s external auditor, PricewaterhouseCoopers.
Set out below is the Annual report on remuneration, which will be put to shareholders for an advisory vote at the AGM on 20 July 2016.
What did we pay our executive directors during the year?
The following table shows the single total figure of remuneration for each executive director, in respect of the years ended
31 March 2016 and 31 March 2015. Further explanatory information is set out below.
Brian Cassin1Lloyd Pitchford2Kerry Williams3
2016
£’000
2015
£’000
2016
£’000
2015
£’000
2016
US$’000
2015
US$’000
Salary 875 735 540 263 924 633
Benefits 18 17 19 829 23
Pension 175 146 108 53 12 8
Annual bonus 1,750 551 1,080 540 1,850 475
Share-based incentives 774 527 784 –1,011 2,698
Total 3,592 1,976 2,531 864 3,826 3,837
1 Brian Cassin was appointed Chief Executive Officer on 16 July 2014, having previously held the position of Chief Financial Officer. The 2015 figures shown
above reflect the change in remuneration which resulted from this change in role.
2 Lloyd Pitchford was appointed Chief Financial Officer on 1 October 2014 and the 2015 figures shown above reflect his remuneration from that date to
31 March 2015.
3 Kerry Williams joined the Board on 16 July 2014 and the 2015 figures shown above reflect his remuneration from that date to 31 March 2015. His salary
for 2016 was US$925,000. The actual payment made during the course of the year reflects the timing of our US payroll.
How has the single figure been calculated?
Salary
This figure represents the salary paid to executive directors during the year.
The Committee approved salary increases for executive directors of between 2.8% and 2.9% with effect from 1 April 2015:
Salary from
1 April 2015
’000
Salary to
31 March 2015
’000
% increase
Brian Cassin £875 £850 2.9%
Lloyd Pitchford £540 £525 2.9%
Kerry Williams US$925 US$900 2.8%
In awarding these increases, the Committee took into account a number of factors including prevailing economic conditions,
positioning against the market and salary increases awarded across the wider employee population.
Benefits and pension
Taxable benefits comprise the provision of life insurance, private healthcare, company car and payments in lieu of pension contributions.
Brian Cassin and Lloyd Pitchford are eligible to participate in a defined contribution pension plan but elected not to do so during the
year ended 31 March 2016. In 2016, Brian Cassin received a cash supplement of £175,000 (2015: £113,891), and Lloyd Pitchford received
a cash supplement of £108,000 (2015: £52,500), in lieu of their pension contributions. The cash supplements were previously included in
benefits but are now included in pensions.
Kerry Williams participates in a defined contribution plan (401k) and the Company contribution to this during the year was US$12,254
(2015: US$8,000).
No executive director has a prospective right to a defined benefit pension.
Annual report on remuneration
85Governance •Report on directors’ remuneration