Advisors to the Compensation Committee
The Compensation Committee regularly consults with Group executives, particularly the Group chief executive (who was not present when matters relating to his own compensation or contracts were discussed and decided), the chief talent officer and the director of compensation and benefits. The latter two individuals provide a perspective on information provided to the committee and are a conduit for requests for information and analysis from the Company’s external advisors. During the year, the committee was advised by Towers Perrin. Advice was also received from Hammonds LLP on legal, tax and governance issues relating to compensation and benefits. Hammonds LLP provides legal advice on a range of matters to the Group.
The committee receives advice on the following:
- analysis of competitive compensation practices and determination of competitive positioning;
- base salary and fee levels;
- annual and long-term incentive plans and awards including awards made under Renewed LEAP;
- the policy for employees relating to WPP share ownership;
- pensions and executive benefits;
- changes in accounting, taxation, legal and regulatory practices;
- governance issues relating to compensation and the role of the committee; and
- policies for preventing and addressing employee harassment and discrimination.