47153 AG Barr Annual Report 2025 AW4 SQ WEB - Flipbook - Page 108
A.G. BARR p.l.c. Annual Report and Accounts 2025
D I R E C TO R S ’
R E M U N E R ATI O N R E P O R T
CO N TI N U ED
Key activities in the year
Key activities of the Remuneration Committee are shown below:
• Continued to implement the Policy which was approved at the 2023 AGM;
• Reviewed remuneration trends, pay levels and employment conditions across the Company;
• Reviewed and set annual salaries for the executive directors, divisional directors and Executive Committee consistent with the wider workforce;
• Set targets for the annual bonus for the executive directors, divisional directors and the Executive Committee;
• Reviewed and approved the grant of LTIP awards to the executive directors, divisional directors and the Executive Committee;
• Set targets for the LTIP for the executive directors, divisional directors and the Executive Committee;
• Considered performance measures for the LTIP awards to be granted in the following year;
• Reviewed and set annual fees for the Chair of the Company;
• Reviewed achievement against targets set and determined the appropriate level of pay-out for the annual bonus for the executive directors, divisional
directors and the Executive Committee in the context of wider business performance;
• Reviewed achievement against targets set and determined the appropriate level of pay-out for the LTIP for the executive directors and a divisional director
in the context of wider business performance;
• Received status updates on in-flight LTIP awards;
• Reviewed and recommended the Directors’ Remuneration Report for the year ended 25 January 2025 to the Board for approval;
• Reviewed the executive directors’ shareholdings against shareholding guidelines;
• Sought and considered shareholder feedback on remuneration proposals related to Stuart Lorimer, Chief Finance and Operating Officer.
• Reviewed, benchmarked and approved remuneration arrangements for Stuart Lorimer as Chief Finance and Operating Officer, including the
reduction and alignment of pension contributions with that available to the wider workforce, effective from 1 April 2025.
• Reviewed market and corporate governance updates to ensure the Remuneration Committee remained up to date on the quickly evolving governance
landscape and best practice;
• Reviewed and recommended the Remuneration Committee’s terms of reference to the Board for approval; and
• Reviewed the Remuneration Committee’s performance and effectiveness during the year.
The terms of reference of the Remuneration Committee are available on the Company’s website, www.agbarr.co.uk.
External adviser
During the year, the Remuneration Committee was assisted in its work by the following external consultant:
Adviser
Details of appointment
PricewaterhouseCoopers LLP Appointed by the
(‘PwC’)
Remuneration Committee
in January 2022 following a
competitive tender process.
Services provided by
the adviser
Fees paid by the Company
for advice to the
Remuneration Committee
and basis of charge
Assistance with the
£57,292
preparation of the Directors’
Charged on a retainer
Remuneration Report.
and time/cost basis.
Attendance at Remuneration
Committee meetings.
Other services provided
to the Company in the year
ended 25 January 2025
Consulting services to
management
Advice on market practice
developments in executive
pay.
The Remuneration Committee is satisfied that all advice received was objective and independent. PwC is a member of the Remuneration Consultants Group
and, as such, voluntarily operates under the Code of Conduct in relation to executive remuneration consulting in the UK.
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