47153 AG Barr Annual Report 2025 AW4 SQ WEB - Flipbook - Page 111
Strategic Report
Corporate Governance
Accounts
Directors’ Remuneration Policy
This part of the report sets out the Company’s Directors’ Remuneration Policy (the “Policy”) which was approved by shareholders at the 2023 AGM and
became effective for three years from the close of that meeting. The Policy for the executive directors has been determined by the Remuneration Committee.
The Policy is due to be reviewed by shareholders at the 2026 AGM.
Executive directors
The table below describes each of the elements of the remuneration package for the executive directors:
Element
Purpose and link to strategy
Operation
Maximum opportunity
Performance measures
Base salary
Core element of fixed
remuneration, reflecting
the size and scope of
the role.
Usually reviewed annually.
Although there is no overall
maximum, salary increases are
normally reviewed in the context
of the salary increases across the
wider Group.
Not applicable.
Purpose is to recruit
and retain directors of
the calibre required for
the Company.
Benefits
Ensures the overall
package is competitive.
Purpose is to recruit
and retain directors of
the calibre required for
the Company.
Salary levels are determined by the
Remuneration Committee taking into account
a range of factors including:
• role, experience and individual
performance;
• pay for other employees in the Group;
• prevailing market conditions; and
• external benchmarks for similar roles at
comparable companies.
Executive directors receive benefits in line
with market practice, which may include, for
example, a car allowance or provision of a
company car, a biennial health check, private
medical insurance, life assurance and the ability
to “buy” or “sell” holidays under the Company’s
flexible benefits plan.
Other benefits may be provided based on
individual circumstances. These may include,
for example, relocation and travel allowances.
The Remuneration Committee may
award salary increases above this
level to take account of individual
circumstances such as:
• increase in scope and
responsibility;
• increase to reflect the executive
director’s development and
performance in the role; or
• alignment to market level.
Whilst the Remuneration Committee
has not set an absolute maximum
on the levels of benefits executive
directors receive, the value of the
benefit is at a level which the
Remuneration Committee considers
appropriate against the market and
provides a sufficient level of benefit
based on individual circumstances.
Not applicable.
109
