The remuneration of the Managing Director/Chief Executive Officer and Executive Director(s) are made up of basic salaries, director’s fees, allowances, annual bonus and etc. In formulating the remuneration levels, the Committee must consider the assessment on the performance of the Managing Director/Chief Executive Officer and Executive Director(s) against stipulated key performance indicators as well as consideration of the duties and responsibilities attached with the position.
Performance indicators can be derived from a combination of strategic and financial measures to the Company, which may include but not limited to, the profitability of the Company, enhancement of market value and etc.
Additionally, remuneration packages shall be structured to link rewards to individual and corporate performance and developed with the guidance of market rate and competitiveness within the industry and comparable companies.
The remuneration of Non-Executive Directors consists of directors’ fees and meeting allowances. In summary, the level of remuneration for Non-Executive Directors must reflect the individual’s experience and expertise, level of responsibilities and the time commitment undertaken by the Directors concerned. As such, the remuneration of a Non-Executive Director shall not be based on commission, the percentage of profits, or turnover and exclusive of any performance-based bonuses or incentive plans (short term/long term).
Remuneration for the services of Non-Executive Directors shall be in alignment with market terms, taking into consideration remuneration paid to directors within comparable companies, whether in size and/or industry, conduct of the individual, and performance of ACME Group entirely.
Key Senior Management
Remuneration package for Key Senior Management is made up of basic salaries, annual bonus & etc. and are set according to:
– Complexity and nature of job scope;
– Skills, experience and scope of responsibilities of individual;
– Performance and conduct of the individual during the period of assessment; and
– Individual’s overall contribution to the Company’s strategy, operation and results.
Similarly, the structure of the remuneration package shall be based on a correlation between performance of the individual and the Company as well as take into account equal packages offered by similar companies within the industry.