POL00448778
POL00448778
From: Veronica Brantori,.
Sent: Fri 25/06/2021 6:
To: Angela M Williams! :
Subject: RE: Remuneration Committee 1st July 2021
Many thanks, Angela
With approvals, it would be better if they came from CoSec so that we have a clear company record and audit trail
(not being precious, it’s just that record keeping has been a bit of an issue and people always come back to CoSec
when looking for decisions).
I won’t try and add the paper back now but there weren’t any earth shattering recommendations.
And sorry, I should have got a meeting in the diary. It’s all a bit frenetic as I’m sure you’re experiencing!
Best wishes
Veronica
From: Angela M William
Sent: 25 June 2021 18:39
To: Veronica Branton .
Subject: RE: Remuneration Committee 1st July 2021
Hi Veronica
Many thanks for this
Please see comments below
Best wishes
Angela
Angela Williams
Group Chief People Officer
(Interim)
People Team
Finsbury Dials (1st Floor)
20 Finsbury Street
London EC2Y 9AQ..
Telephone -'
WE'RE STRONGER TOGETHER
Advance Notice of Annual Leave:-
From: Veronica Branton} _ GRO }
Sent: 25 June 2021 17:27
To: Angela M Williams 4 GRO.
Subject: Remuneration Committee 1st July 2021
POL00448778
POL00448778
Hi Angela,
I’ve been going through the RemCo papers to prepare the Chairman’s agenda for Ken and just wanted to flag a few
things:
3a Approval of the Transformation Incentive scheme metrics — this refers to approval by email for Postmaster
satisfaction metric which I don’t think I’ve seen? The paper refers to Shareholder approval being required for the
CEO but I think this should be for the CFO as well? I have received Tim, Lisa and Ken’s approvals but still awaiting
Tom! —I will chase again on Monday!! Agree it would apply to everyone and then we need to do a separate approval
letter/paper for Nick and will also reference Al, but he should be included as a GE member under this approval
anyway.
6. GE year-end performance ratings - RemCo would normally approve the bonus payments rather than the
performance ratings of GE members (I know the two are linked, but the former might suggest that the CEO doesn’t
have discretion on the performance ratings he awards?). As there isn’t a bonus for this year that is why it is just
ratings — and the TI Scheme said they must score 3 or above to be eligible to participate in the Tl Scheme. Does that
make sense?
8. Is the CEO one off incentive a verbal update? Yes as the letter has been issued to Tom/UKGI etc for approval but
nothing back yet!
The follow up from the independently facilitated Board and Committee review and the forward plan seem to have
fallen off the agenda. I'll roll forward the paper on the first to the next meeting agenda. It would probably to helpful
to have a quick catch up before the agendas are finalised. That’s a pain — can we add this back on to the agenda?
Agreed in future we should catch up before the agenda is issued - apologies
Best wishes
Veronica
Veronica Branton
Company Secretary
Company Secretariat
Legal, Compliance & Governance
Finsbury Dials
20 Finsbury Street
London
EC2Y 9AQ
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