Unilever 2013 Annual Report Download - page 63

FIXED
ELEMENTS
PERFORMANCE-RELATED
ELEMENTS
Base salary Fixed allowance
and other
benefits
Annual bonus Longer-term:
GSIP
Longer-term:
MCIP
ATTENDANE
Paul Walsh 6 / 6
Charman of the ompensaton and
Management Resources ommttee
Ann Fudge 5 / 6
Kees Storm 5 / 6
Mchael Treschow 6 / 6
Ths table shows the attendance of Drectors at ommttee meetngs held
n the year ended 31 December 2013 If Drectors are unable to attend a
meetng, they have the opportunty beforehand to dscuss anyagenda
tems wth the ommttee harman Attendance s expressed as the
number of meetngs attended out of the number elgble to be attended
OMMITTEE MEMBERS AND ATTENDANE
• No changes have been made to the
remuneraton polcy durng the year
• The Commttee approved the ntroducton of a
new global employee share plan
• The Drectors’ Remuneraton Report has been
further updated to make t complant wth the
new remuneraton reportng regulatons n the
UK, followng sgnfcant changes to the
structure of the report n 2012
• Revew of the reward structure for Unlever’s
executve management populaton two years
after mplementaton to ensure that t s
delverng on objectves
• Further revew and shapng of Unlever’s future
reward framework to ensure that t remans
algned wth strategy and long-term shareholder
value creaton
• Revew of the Drectors’ Remuneraton Report
after the frst year of complance wth the new
remuneraton reportng regulatons
HIHLIHTS OF 2013
PRIORITIES FOR 2014
HAIRMAN’S LETTER
DEAR SHAREHOLDERS,
Last year the Compensaton and Management Resources
ommttee (the ommttee) made sgnfcant changes to the
structure of the Drectors’ Remuneraton Report n preparaton
for the new remuneraton reportng regulatons n the UK whch
came nto effect from 1 October 2013 We were pleased wth the
feedback we receved on the clarty and level of our dsclosure
For the 2013 Drectors’ Remuneraton Report we have made some
further changes to reflect the fnal regulatons We have amed to
keep our reportng clear and transparent and we hope
shareholders fnd ths useful and easy to follow
Our remuneraton polcy remans fundamentally unchanged from
2013 and, n lne wth legal requrements, wll be submtted to
shareholders for a bndng vote at the PL and NV AMs on
14May 2014 Agan, pursuant to legal requrements, the remander
of the Report wll be subject to an advsory vote at the PL AM
The Commttee looks forward to recevng your support on these
resolutons In addton, the mplementaton of our remuneraton
polcy n 2013 wll be dscussed wth shareholders at the NV AM
2013 has been another year of sold progress for Unlever We
delvered underlyng sales growth of 43%, whch was agan
ahead of our compettors, volume growth of 25% and our core
operatng margn mproved 04 percentage ponts to 141%,
demonstratng the consstent delvery of both top- and bottom-lne
growth There has also been sgnfcant progress n embeddng
sustanable lvng, the centre of our busness model, throughout
Unlever The year, however, has not been wthout ts challenges
wth economc, compettve and poltcal condtons contnung to
be tough
REMUNERATION PRINIPLES
SUPPORTIN THE DELIVERY OF OUR STRATEY THROUH
REMUNERATION ARRANEMENTS
Our busness vson s to double the sze of Unlever whle
reducng our envronmental footprnt and ncreasng our postve
socal mpact through a focus on our brands, our operatons and
our people and the Unlever Sustanable Lvng Plan (USLP)
Remuneraton s one of the key tools that we have as a busness
to help us to motvate our people to acheve our goals
Our remuneraton arrangements are desgned to support our
busness vson and the mplementaton of our strategy The key
elements of our remuneraton package for Executve Drectors
are summarsed below:
FORMAT OF THE DIRETORS’ REMUNERATION REPORT
Our Drectors’ Remuneraton Report s splt nto the
followng sectons:
• harman’s letter – page 60 to 61
• Remuneraton Prncples – page 60 to 61
• Polcy Report – page 62 to 72
• Annual Remuneraton Report – page 73 to 83
60 Unlever Annual Report and Accounts 2013overnance
DIRECTORS’ REMUNERATION
REPORT