Unilever 2013 Annual Report Download - page 86

THE OMPENSATION AND MANAEMENT RESOURES
OMMITTEE
Durng 2013, the ommttee comprsed four Non-Executve
Drectors Paul Walsh (ommttee harman), Mchael Treschow,
Ann Fudge and Kees Storm
The ommttee revewed ts terms of reference durng the year
The ommttee s concerned wth
• the remuneraton polcy for the ULE and senor corporate
executves
• the remuneraton and benefts of the Drectors and other
members of the ULE
• the desgn and terms of all long-term ncentve plans
• leadershp development, especally of the ULE and senor
corporate executves and
• performance evaluaton of the members of the ULE
The ommttee’s revsed terms of reference are contaned wthn
‘The overnance of Unlever’, and are also set out on our webste
at wwwunlevercom/nvestorrelatons/corp_governance
Durng the year, the ommttee revewed ts own effectveness
and concluded that t was broadly operatng effectvely Where
approprate, the ommttee agreed steps to enhance ts
effectveness
ADVISERS
Whle t s the ommttee’s responsblty to exercse ndependent
udgement, the ommttee does request advce from
management and professonal advsers, as approprate, to ensure
that ts decsons are fully nformed gven the nternal and external
envronment
The ommttee apponted Delotte LLP to provde ndependent
advce on varous matters t consdered Delotte was apponted n
2011 followng an ntervew process by the ommttee Durng the
year, Delotte also provded other servces to Unlever prmarly n
relaton to the Drectors’ Remuneraton Report The wder Delotte
frm has also provded tax and consultancy servces ncludng tax
complance, transfer prcng, fnancal transformaton, IT
restructurng and sourcng strateges advce to Unlever Delotte s
a member of the Remuneraton onsultants roup and, as such,
voluntarly operates under the code of conduct n relaton to
executve remuneraton consultng n the UK Further detals can
be found at wwwremuneratonconsultantsgroupcom
The ommttee s satsfed that the Delotte LLP engagement
partner and team, whch provde remuneraton advce to the
ommttee, do not have connectons wth Unlever NV or Unlever
PL that mght mpar ther ndependence The ommttee
revewed the potental for conflcts of nterest and udged that
there were approprate safeguards aganst such conflcts
The fees pad to Delotte LLP n relaton to advce provded to the
ommttee n the year up to 31 December 2013 were £47,000 Ths
fgure s calculated based on tme spent and expenses ncurred
for the maorty of advce provded, but on occason for specfc
proects a fxed fee may be agreed
Durng the year, the ommttee also sought nput from the hef
Executve Offcer (Paul Polman), the hef Human Resources
Offcer (Doug Balle) and the SVP lobal Head of Reward (Peter
Newhouse) on varous subects ncludng the remuneraton of
senor management No ndvdual was present when hs or her
own remuneraton was beng dscussed to ensure a conflct of
nterest dd not arse The ommttee also receved legal and
governance advce from the roup Secretary (Tona Lovell)
SHAREHOLDER VOTIN
Unlever remans commtted to ongong shareholder dalogue and
takes an actve nterest n votng outcomes In the event of a
substantal vote aganst a resoluton n relaton to Drectors’
remuneraton, Unlever would seek to understand the reasons for
any such vote and would set out n the followng Annual Report
and Accounts any actons n response to t
The followng table sets out actual votng n respect of our
prevous report
Votng outcome (% of votes) For Aganst
2012 Drectors’ Remuneraton Report (2013 AM) PL 9539% 461%
32,520,664 votes were wthheld (c 25% of share captal)
The Drectors’ Remuneraton Report s not subect to a
shareholder vote n the Netherlands Wth effect from 1 January
2014, the mplementaton of the Remuneraton Polcy wll be a
dscusson tem pror to the adopton of the Annual Accounts
The Drectors’ Remuneraton Report has been approved by the
Boards and sgned on ther behalf by Tona Lovell, roup Secretary
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Unlever Annual Report and Accounts 2013 overnance