Qantas 2010 Annual Report Download - page 27

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25 ANNUAL REPORT 2010
for the year ended 30 June 2010
Corporate Governance Statement continued
THE BOARD REMUNERATES FAIRLY AND RESPONSIBLY
The Qantas Executive Remuneration Objectives and Approach is set out
in full in the Directors’ Report (from page 33).
Remuneration Committee
The Board has a Remuneration Committee which:
—Has three members who are Independent Non-Executive Directors
—Is chaired by James Strong, an Independent Non-Executive Director
—Has a written Charter which is available in the Corporate Governance
section on the Qantas website
—Is responsible for assisting the Board in ful lling its corporate
governance responsibilities in regard to:
– The remuneration framework for Non-Executive Directors
– The remuneration and incentive framework, including any
proposed equity incentive awards for the CEO, any other Executive
Directors, Executive Committee Members and Senior Executives
– Recommendations and decisions (as relevant) on remuneration
and all incentive awards for the CEO, any other Executive
Directors and Executive Committee Members
– Strategic human resources policies
The experience and quali cations of Members of the Remuneration
Committee are detailed on pages 10 and 11. Membership of and
attendance at 2009/2010 Remuneration Committee Meetings are
detailed on page 29.
The remuneration of Executive Management is disclosed to the extent
required in the Remuneration Report from page 33.
Qantas Directors are entitled to statutory superannuation and certain
travel entitlements (accrued during service) which are reasonable and
standard practice in the aviation industry (see page 42).
Review of Executive Management Performance
At least annually, the Remuneration Committee undertakes a review of
the performance of Executive Management against their Key Performance
Indicators (KPIs). The process for evaluating the performance of Executive
Management is detailed from page 33. Executive Management’s
performance for the 2009/2010 year was assessed against individual KPIs
in August 2010. The structure of Non-Executive Directors’ remuneration
is detailed on page 39.