Whilst there is no statutory requirement for a company to provide shareholders with a Remuneration Report we believe this to be a central part of good governance.
The NZSA Position
- NZSA recommends that all publicly listed companies include a Remuneration Report in their Annual Report. The Report should cover all payments and entitlements as regards the Chief Executive Officer and those executives who report to the Chief Executive Officer.
- It should set out the terms and conditions of the employment contract and clearly state any payments on engagement and termination of the contract as well as details of all payments or entitlements during the term of the contract.