The Compensation Committee presents the Executive Remuneration Policy, which will be put to share owners for approval at the Annual General Meeting (Resolution 4). This policy is intended to comply with the UK Companies Act 2006 despite the fact WPP plc is a Jersey incorporated company and therefore not subject to that legislation (or the associated regulations). The policy will take effect immediately following the AGM and is consistent with the arrangements in place from the start of the 2014 financial year. It is the intention of the committee that this policy will be in effect for three years from the date of approval and subject to periodic review during its operation to ensure it continues to align with the Company's mission statement and business objectives.
The report that follows is split into a number of sections, which in summary are as follows:
- Details of the contextual information that the committee considers when setting, reviewing and implementing the directors' pay policy
- An Executive Remuneration Policy table for the executive directors
- A summary of other executive director policies that relate to compensation
- An Executive Remuneration Policy table for the chairman and non-executive directors
- A summary of other non-executive director policies that relate to compensation
Chapter 9 of 13