Singapore Airlines 2016 Annual Report Download - page 68

by the Chairman and the NC, while the Chairman’s
performance was reviewed by the rest of the Board.
The NC has reviewed the contribution by each Director
taking into account their listed company board
representations and other principal commitments.
The NC and the Board are of the view that, setting
a maximum number of listed company board
representations a Director should have is not
meaningful, as the contribution of each Director would
depend on their individual circumstances, including
whether they have a full time vocation or other
responsibilities. Notwithstanding the number of listed
company board representations and other principal
commitments which the Directors held, the NC was of
the view that they were able to devote suicient time
and attention to the aairs of the Company.
The NC’s terms of reference also include the
responsibility for reviewing the training and
professional development programmes for the Board.
For FY2015/16 Board members attended briefings
on the challenges facing the airline industry, as well
as other related topics conducted by global airline
industry leaders and experts.
Board Compensation and Industrial Relations
Committee (“BCIRC”)
The BCIRC was chaired by Mr Stephen Lee, and
comprised Mr Gautam Banerjee, Mr Hsieh Tsun-yan,
Dr Helmut Panke and Mr Peter Seah who joined on 1
September 2015. All members of the Committee are
non-executive Directors.
The BCIRC reviews and recommends for the Board’s
approval the general framework of remuneration for
the Board and Relevant Key Management Personnel1.
The BCIRC also recommends the specific remuneration
packages for each Director and Relevant Key
Management Personnel and administers the Company’s
Profit Sharing Bonus, EVA-based Incentive Plan,
Strategic Initiatives Incentive Plan, Transformational
Initiatives Incentive Plan, Performance Share Plan and
1 Relevant Key Management Personnel are employees holding the rank of Executive Vice President and above. For FY2015/16, they comprised the
CEO and two Executive Vice Presidents.
Restricted Share Plan for senior executives. The award
of shares to senior executives is based on organisational
and individual performance. Professional advice is
sought by the BCIRC, as it deems necessary, in the
development and execution of the remuneration plan
for the Company’s senior executives. For FY2015/16,
Carrots Consulting Pte Ltd was engaged as a
remuneration consultant to provide professional advice
on human resource matters. The principal consultant
providing such services was Mr Johan Grundlingh.
Carrots Consulting only provides remuneration
consulting services to the Company, and has no other
relationship with the Company.
Leadership development and succession planning
in the Company remains a key focus for the BCIRC.
The Company has in place an annual review of
high potential executives, to ensure an adequate
pipeline for succession planning in key management
positions. Such high potential executives will be given
exposure to key jobs in the organisation, as part of
their career development.
The Company continues to put much emphasis in
maintaining harmonious industrial relations and the
BCIRC plays an important role in providing appropriate
guidance to Management in this regard. The Company’s
three unions, namely, ALPA-S representing the pilots,
AESU, representing the Administrative Oicers, and
SIASU, representing the General Sta (including Cabin
Crew) hold regular meetings with Management and
Chairman of BCIRC.
Access to Information (Principle 6)
The Directors are provided with Board Papers in
advance before each Board Meeting, to enable them to
be properly informed of matters to be discussed and/
or approved. Board Papers contain both regular items
such as reports on the Company and its subsidiaries
and associated companies, updates on business
development, monthly management accounts, and
productivity and performance indicators, as well as
matters for the decision or information of the Board.
Corporate
Governance Report
(continued)
Singapore Airlines66
PERFORMANCE