2021 will see many firms reviewing the remuneration policies that were originally planned for their triennial review in 2020. The Covid-19 pandemic inevitably forced many companies to adopt a ‘wait and see’ approach, in the context of a new and perhaps unique set of challenges.
For many this will have created a valuable opportunity for a more wide-ranging re-think of reward policy. But either way, there will be an increased level of scrutiny on reward decisions, especially by those companies that have benefitted from taxpayer support during the pandemic. A watchful media and a sceptical public will be on the lookout for any signs of ‘excessive’ executive pay. This will require a careful balancing act around what constitutes fair reward.
Our meeting will have three distinct but related themes, which will enable members to consider the multi-faceted issue of ‘fair’ reward policy from the perspective of a wider group of stakeholders:
- Key changes to remuneration policy
- What policy shifts are companies now considering in the wake of the pandemic?
- What wider perspective on performance and greater protection against reward risk do these changes offer?
- What is fair and what is excessive?
- Are decisions based on a real understanding of the market for key roles?
- What is an acceptable level of pay ‘inequality’?
- How do you stay on the right side of ‘outrage’?
- Rewarding in exceptional times
- How can a RemCo balance the tensions arising between the need for short-term agility in the market for talent vs. long-term justifiable outcomes and transparent to stakeholders?
- How creative can a company be in terms of reward structures and/or quantum?
- How does a company identify and reward new business models and the critical resources for the business of tomorrow?
Our distinguished panel of speakers will offer the diverse perspectives of a senior business school professor, a RemCo chair, the chief executive of an independent think tank, and a leading remuneration consultant.
Non Executive Director and Chair of Remuneration Committees
Celia has over 30 years of commercial, international business and HR experience. Currently, Celia has a portfolio of non-executive director roles. She joined the Senior plc Board as a non-executive director in September 2013 and is the Senior Independent Director and Chair of the Remuneration Committee, she is also a member of the Audit Committee and Nominations Committee. Celia became a non-executive director, Chair of the Remuneration Committee and member of the Nomination Committee for RHI Magnesita NV in October 2017. Celia joined the Board of D S Smith in early October 2019 as a non-executive director, Chair of the Remuneration Committee and member of the Nominations and Audit Committees and stepped down in May 2020 from the Board of Bekaert SA where she had served for four years as an independent director and member of the Nomination and Remuneration Committee. Celia was Director of Group HR, Bunzl plc for 13 years until 2016. Previously, she held similar positions for Hays plc, Enterprise Oil Plc and Tate & Lyle Plc. Her early HR career was with Ford Motor Company and KPMG. Celia has a BSc (Hons) Botany, is a Doctor of Philosophy (PhD) and a Member of Chartered Institute of Personnel & Development.
Chief Executive, Resolution Foundation
Torsten is the Chief Executive of the Resolution Foundation, a think tank that combines analytical rigour with policy prescriptions to improve the living standards of those in Britain on low to middle incomes. He has a background in economic policy, with his current research focuses including inequality, the labour market, tax and beneﬁts, and housing and wealth. Prior to leading the Resolution Foundation, Torsten was Director of Policy for the Labour Party. He has also worked in HM Treasury, as a member of the Council of Economic Advisers during the ﬁnancial crisis and as a civil servant. Torsten is a trustee of the Child Poverty Action Group and a Fellow of the Academy of Social Sciences.
European Practice Leader for Executive Reward, Mercer
Peter is Mercer’s UK and European Practice Leader for executive reward, based in London. He has over twenty years’ experience advising the remuneration committees and management teams of major companies on executive compensation matters. Peter has worked with a wide variety of leading organisations in the UK, the rest if Europe and North America including AMG Advanced Metallurgical Group, Arm Holdings, Barrick Gold, Carlsberg Costa, Dialight, DSM, EMIS, Equinor/Statoil, Ericsson, Galliford Try, Gulf Keystone Petroleum, ISS World, Novartis, OCI, Pandora, Synthomer, TClarke, and Volvo.
Executive Dean of Aston Business School
George Feiger has been the Executive Dean of Aston Business School since June 2013, returning to the academic world, in which he began his professional career. From 2003 to 2013 George was the founder and CEO of Contango Capital Advisors, a wealth management fi rm in San Francisco. George has also been a Director of McKinsey & Co, working in the US and the UK, the Global Head of Investment Banking for SBC Warburg, the Global Head of Onshore Private Banking for Swiss Bank Corporation and then for UBS and a member of the Group Management Boards of both companies. He has also been involved in a variety of venture capital activities.
George has been a frequent commentator on economic and financial topics in a variety of media and was a Lecturer in Economics at Harvard and then Assistant and Associate Professor of Finance at the Stanford Graduate School of Business. He holds a B.Econ (Hons) from Monash University and a PhD in Economics from Harvard University. He was also a Junior Fellow in the Society of Fellows at Harvard.
Chairman, The Remuneration Consultants Group and Director, Foxtons plc
Alan is Chairman of The Remuneration Consultants Group, Senior Independent Director and Remuneration Committee Chair of Foxtons plc, and Senior Independent Director of Perpetual Income & Growth Investment Trust plc. He is also an Associate Fellow of Saïd Business School, University of Oxford where he chairs the Advisory Board of the Oxford Institute of Retail Management, and an Honorary Visiting Professor at Cass Business School, City, University of London, where he is Deputy Chair of the Advisory Board of the Mergers & Acquisitions Research Centre.