people & remuneration committee charter
TRANSCRIPT
TAX REPORT 2019
PEOPLE & REMUNERATION COMMITTEE CHARTERBOARD APPROVED 20 MAY 2020
KEY HEADINGS
1. Purpose 2. Definitions 3. Responsibilities 4. RoleoftheChair 5. Membership 6. Meetings 7. Reporting 8. ExternalAdvice 9. ReviewofCommittee&Charter
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DEFINITIONS
A. KMP
B. ET
C. CPO
D. SLC-StaffLiaisonCommittee
E. GroupRemuneration&RewardFramework
F. TermsofReference-Annual CommitteeWorkplan
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PURPOSE
ThepurposeoftheCommitteeistoassisttheBlackmoresLimitedBoard(‘theBoard’)indischargingitsdutiesinrespectofBlackmores’peoplepoliciesandpracticesaswellasotherrelated matterdirectedby theBoard.
3RESPONSIBILITIES OFTHECOMMITTEE
A. Leadership/TalentDevelopment
B. TalentSuccessionPlanning
C. Diversity&Inclusion
D. GroupRemunerationandRewardFramework
TheCommitteereviewsandrecommendstotheBoardforapproval,theremunerationoftheBoard,CEO,KMP,ET,GroupCoSecandGroupGeneralCounsel.
IndoingsotheCommitteeshouldtakeintoaccounttheoverallGroupRemunerationandRewardPolicy/Principles,considertheriskappetiteoftheCompanyandaligntotheCompany’slongtermstrategicgoals.
i. Remuneration&RewardPolicy/PrinciplesfortheGroup
ii. Board
iii. CEO
iv. KMP(asdisclosed)
v. ET(directreportstotheBoard)
vi. GroupCoSec
vii. GroupGeneralCounsel
E. EmployeePerformanceManagement
F. Superannuation
G. RemunerationReport
H. RemunerationDisclosures
I. SLCInsightsForum
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4ROLEOFTHECHAIR
TheCommitteeChairmustnotbetheChairoftheBoard.
KeyresponsibilitiesoftheChairofthePeople&RemunerationCommitteeare:
A. ApprovetheagendaensuringthatappropriatetimeandfocusisgiventomatterswithintheresponsibilitiesoftheCommittee
B. ApprovethedraftminutesoftheCommitteemeetings
C. ReportontheactivitiesoftheCommitteetotheBoard
D. EnsuretheCommitteeisactingwithinitspowersandTermsofReference.
E. ProvidesupportanddirectiontoCommitteememberstoensuretheircontributionisrelevantandeffective.
F. LiaisewiththeCPOtoensuretheCommitteehastheinformationnecessarytoenableeffective
5MEMBERSHIP
A. TheCommitteeisappointedbytheBoardinaccordancewithClause122oftheBlackmoresConstitution.
B. TheCommitteeistoconsistof:
a. amajorityofindependentNon-ExecutiveDirectors;and
b. atleastthree(3)Members.
C. TheChairmanoftheCommitteeistobeanIndependentNon-ExecutiveDirectorandistobeappointedbytheBoard.
D. TheCompanySecretaryistoattendallCommitteeMeetingstoensureminutesaretakenoftheMeeting.
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6MEETINGS
A. TheCommitteeistomeetasrequestedbyitsChairman,atleastfourtimesperyearorasoftenasneeded.
B. TheCompanySecretarywillberesponsibleforCommitteeagendas(inconsultationwiththeCommitteeChairman),theco-ordinationofCommitteepapers,thedespatchofCommitteepapersandthepreparationofminutesofCommitteemeetings.
C. TheChiefExecutiveOfficerandtheChiefPeopleOfficeraretoattendsuchportionofeachmeetingasrequestedbytheCommitteeChairman.
D. TheChairmayinviteSLCChair,othermembersofmanagement,and/orotherexternaladvisorstobepresentatmeetingoftheCommitteeasnecessaryordesirable.BoardmembersmayattendanymeetingoftheCommittee.
E. Aminimumoftwo(2)Non-ExecutiveDirectorsshallconstituteaquorumandbecompetenttotransacttheaffairsoftheCommittee.
7REPORTING
A. MinuteswillbetakenanddistributedtotheChairwithin5workingdaysforreviewandapproval.FollowingwhichtheminuteswillbedistributedtotheCommitteemembersforapprovalandsignedbytheChairofthemeeting.MinutesofmeetingwillbetabledatBoardmeetings.
B. TheChairmanoftheCommitteeshallreporttotheBoard,atthenextmeetingoftheBoardofDirectorsfollowingaCommitteemeeting,onmatterscontainedinthisTermsofReference.
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8EXTERNALADVICE
A. TheCommitteehastheauthoritytoseekanyinformationitrequiresfromanyemployeeoftheBlackmoresgroup.
B. TheCommitteemayseekindependentlegal,financial,remunerationorotheradviceasitconsidersnecessary.
C. TheCommitteewillberesponsibleforbriefingandcommissioningremunerationadvisors.ManagementworkingwithacommissionedremunerationadvisorwillworkundertheguidanceoftheCommitteeandwithinthecontextoftheapprovedbrief.RemunerationadvisorsdonotincludelegaloraccountingprofessionalsengagedbymanagementtoassistinimplementingchangesapprovedbytheCommitteeortoensurecomplianceduetominortaxationorregulatorychanges.
D. WherearemunerationadvisorisengagedbytheCommitteeforpurposesofservicesrelatedtoKMPremuneration,thatremunerationadvisorisprecludedfrombeingengagedbytheCompany,inrelationtoremunerationservicestothewidermanagementgroup.
9REVIEWOFTHECOMMITTEEPERFORMANCE&CHARTER
Todeterminewhetheritisfunctioningeffectively,onceeachyeartheCommitteeshall:
A. reviewthisCharter;
B. undertakeanevaluationofitsperformance;and
C. reviewcommitteetermsof referenceworkplan.
Blackmores LimitedAustralia’s Leading Natural Health Company
ACN009713437
20JubileeAvenueWarriewoodNSW2102,AustraliaPhone:+61299105000Fax:+61299105555
blackmores.com.au