Remuneration report
Who is covered by the report
This report covers Transurban’s key management personnel (KMP) who have the authority and responsibility for planning, directing and controlling the Group’s activities, either directly or indirectly. This includes Executive KMP and Non-executive Directors.
In FY24, KMP were as follows: Current Non-executive Directors Craig Drummond, Chair Mark Birrell Patricia Cross Marina Go Gary Lennon (from 18 March 2024) Timothy Reed Sarah Ryan (from 1 September 2023) Peter Scott Robert Whitfield Former Non-executive Directors Terence Bowen (until 19 October 2023) Jane Wilson (until 18 October 2023)
Current Executive KMP Executive Director and Chief Executive Officer (CEO) (from 19 October 2023, formerly Chief Financial Officer) Michelle Jablko Chief Financial Officer (from 19 October 2023, formerly Group Executive Victoria and Strategy) Henry Byrne Group Executive Australian Markets (from 1 June 2024) Nicole Green Group Executive Customer and Technology Simon Moorfield Chief Commercial Officer (from 1 June 2024, formerly Group Executive Partners, Delivery and Risk) Hugh Wehby
Former Executive KMP Executive Director and Chief Executive Officer (CEO) (until 19 October 2023) Scott Charlton Group Executive New South Wales (until 31 May 2024) Michele Huey Group Executive Queensland (until 31 May 2024) Sue Johnson
All KMP held their positions for the duration of FY24 unless otherwise stated.
Our remuneration governance framework at a glance 1
Board Sets and oversees remuneration policy implementation. Remuneration, People and Culture Committee
Assists the Board in fulfilling its responsibilities in relation to the remuneration of the Chairman and other Non-executive Directors, performance and remuneration of, and incentives for, the CEO and Senior Executives, remuneration strategies, practices and disclosures, and management programs to develop the capability of Transurban’s workforce and align to the Group’s purpose, strategy and culture. The Committee may request additional information from Management or external advisors where required. The Committee uses a range of inputs when assessing performance and outcomes of Executive KMP, including both what and how results have been achieved. Detailed performance assessments as well as audited financial results, external remuneration benchmarking and an overarching view to the organisation’s values and risk profile are taken into account. The Committee and the Board review relevant information and exercise discretion, and may adjust remuneration outcomes, including application of malus and clawback. Management
External Advisors The Committee may seek and consider advice from independent remuneration consultants where appropriate. Protocols are in place for the independent engagement of remuneration consultants and the provision of remuneration recommendations. During FY24, remuneration consultants only provided benchmarking data and insights on market practices to the Committee. No remuneration recommendations relating to KMP were provided by consultants.
Provide management information on financial, customer, employee, safety, ESG and risk matters which may impact remuneration. The CEO and the Group Executive, People and Culture attend Committee meetings, however they do not participate in formal decision making or in discussions involving their own remuneration.
1 R efer to Governance and risk section of the Corporate Report on page 71 for details of Transurban’s Governance Framework
93
Made with FlippingBook Digital Publishing Software