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Remuneration
report
“Our remuneration philosophy is to reward our executives and our employees for their contribution
to our strategic, operating and financial performance, and to ensure that our remuneration is conducive
to developing and retaining top talent, critical skills and intellectual capital”.
Remuneration Committee (RemCo)
Key responsibilities
À
À
Determine, agree and develop Vodacom’s remuneration
policy and philosophy;
À
À
Determine and agree the remuneration and overall
compensation package for the CEO, CFO, executive directors
and prescribed officers;
À
À
Ensure that competitive reward strategies and programmes
are in place to facilitate the recruitment, motivation and
retention of high-performance staff at all levels in support
of realising corporate objectives and to safeguard
stakeholder interests;
À
À
Review and recommend to the Board the relevant criteria
necessary to measure the performance of executives;
À
À
Ensure compliance with applicable laws and codes; and
À
À
Regularly monitor the application of the Group’s
remuneration policy to ensure it is appropriate, fair and
reasonable from both an internal business perspective, as
well as an external market perspective.
Committee meetings
The Chief Executive Officer, Chief Human Resources Officer and
executives responsible for the Group’s remuneration attend the
meetings by invitation, but recuse themselves for discussions and
decisions regarding their own remuneration.
The RemCo seeks and considers advice from independent
remuneration advisors where appropriate. In this context, Vasdex
Associates were retained to provide in depth external advice to the
committee on matters of remuneration governance and practice.
Membership
Chairman:
Thoko Martha Mokgosi-
Mwantembe:
Independent
non-executive director
Members:
David Hugh Brown:
Independent non-executive director
Ronald Adrianus Wilhelmus Schellekens:
Non-executive director
Serpil Timuray:
Non-executive director
Vodacom Group Limited
Integrated report for the year ended 31 March 2016
64