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—REMUNERATION REPORT - UNAUDITED
(CONTINUED)
(b) Governance of Remuneration
The ARTC Board has overall
responsibility for Senior Management
remuneration. In making remuneration
decisions, the Board is advised by
the People, Policy and Remuneration
Committee (PPRC).
The PPRC is currently composed of
three Non-Executive Directors, with
a requirement under its charter that
there be a minimum of two. Current
membership is Helen Nugent (Chairman),
Chris Barlow and Gillian Brown.
Other Directors are invited to attend
meetings, but are not required to do so.
The CEO is also invited to attend, except
where a conflict of interest exists, such
as in relation to his own remuneration.
The responsibilities of the CEO, the
PPRC and the Board are clearly defined
and are outlined in the chart below.
Where necessary, the CEO and the
PPRC receive external benchmark
information to assist with decision-
making. In 2017, advice was received
from Mercers Australia, as well
as PriceWaterhouseCoopers.
Notwithstanding receipt of that
information, all decisions made were
those of the PPRC and the Board.
(c) Remuneration Approach
The objectives of ARTC’s remuneration
approach are clear. They are to:
•
•
Drive superior outcomes for shareholders
by:
—— Making freight the mode of choice in
the national logistics chain;
—— Managing a world class national rail
network;
—— Delivering superior value for
customers;
—— Innovatively improving operating
efficiency; and
—— Investing wisely and well in
maintenance and new track
—— Review CEO
recommendations
for Senior Executive
remuneration
arrangements, and
performance outcomes
—— Recommend CEO
performance metrics,
levels and bonus outcome
PEOPLE, POLICY
AND REMUNERATION
COMMITTEE
—— Review and approve
recommendations made
by the People, Policy
and Remuneration
Committee
BOARD
—— Recommend
remuneration level,
performance metrics,
performance levels
for Senior Executives
—— Recommend
performance
assessment and
bonus outcomes for
Senior Executives
CEO
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