STATUTORY INFORMATION
Remuneration and performance CONTINUED Group Chief Executive remuneration for performance periods ending 30 June 2017 and 30 June 2016
Fixed remuneration
Pay for performance Total remuneration
Non-taxable benefits 2
Salary 1
Subtotal
STI
FY17 FY16
1,176,997 1,148,290
–
1,176,997
SEE FOOTNOTE 3
SEE FOOTNOTE 5
– 1,148,290
427,164 4
1,575,454
Five Year Remuneration Summary
Total remuneration
% STI awarded against maximum
FY17 FY16 FY15 FY14 FY13
SEE FOOTNOTE 5
SEE FOOTNOTE 3
1,575,454 1,533,947 1,501,316 1,484,427
74.40% 73.85% 74.73% 79.76%
1. Salary indicates fixed remuneration, inclusive holiday pay as per NZ legislation. 2. No additional benefits. 3. STI for FY17 performance period has not been calculated (scheduled for review in October 2017). 4. STI for FY16 performance period (paid FY17). 5. Total Remuneration and STI data not available at this time.
Description of Group Chief Executive STI, scheme for performance period ending 30 June 2017
Scheme
Description
Performance measures
Percentage of maximum awarded
Company performance measures: • 40% Disciplined growth and cost efficiency. • 40% Customer experience. • 20% Environmental compliance. Individual performance measures: • 20% New Technology and Growth. • 35% Operational Excellence. • 20% Customer Excellence. • 25% Health & Safety.
STI
Set to a maximum of 50% of fixed remuneration for FY17 on-plan performance where the highest levels of both company and individual performance measures are achieved.
If met, payment will be October 2017
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