Reward Policy and Practice

Remuneration Committee Effectiveness

  • Hybrid Event
  • September 25, 2024 @ 3:30 pm - 5:30 pm UTC-1


The effectiveness of Remuneration Committees has been challenged for almost as long as they have been in existence. In the three decades since they were introduced, they have been subject to extensive criticism. If anything, the focus on the RemCo is likely to become sharper as the cost-of-living crisis deepens and the public debate over executive pay becomes more heated. However, as the public focus on corporate governance and reward quantum has increased, so has the range of interests the RemCo is expected to take into consideration. The need for the RemCo to demonstrate that it understands and can balance the interests of the company’s various stakeholders has never been greater.

The original purpose of the RemCo was to balance the interests of share owners and executive management, but the question of aligning pay with performance is now a lot more complex than it was 30 years ago. A broader range of both financial and non-financial criteria must be taken into account. Consequently, the demands placed on the RemCo and any corresponding assessment of its effectiveness have increased exponentially.

The membership of the RemCo is also attracting greater scrutiny. Does the collegiate nature of a British boardroom and the backgrounds of its members blunt the level of challenge to remuneration policy? Would widening the composition of the RemCo to include direct representation of other affected stakeholders help improve the rigour and objectivity of debate and lead to better outcomes?

This event and the accompanying report will seek to re-assess the role of the Remuneration Committee and its success criteria in the light of the changed context and the challenges in which it is now required to operate. 

We will examine the RemCo’s structure, composition, and its degree of independence from executive management – in the context of the labour market for top executive talent, and the diversity of perspectives and voting practices of shareholders.


The Royal Air Force Club, 128 Piccadilly, London W1J 7PY

Denise Collis

Non-Executive Director and Chair of the Remuneration Committee

Denise is a Non-Executive Director and Chair of the Remuneration Committee at Smiths News plc (a specialist distributor), EMIS Group plc (a provider of healthcare software, information technology and related services in the UK) and SThree plc (an international recruitment business) where she is also the Senior Independent Director. In addition, she is Chair of the Remuneration and People Committee for the British Heart Foundation. Previous appointments include Vice Chair to the International Advisory Board at Leeds University Business School and being a member of the Advisory Board to the Business School at Exeter University. Previously, Denise was Chief People Officer for Bupa, the global healthcare business. She started her career with Ford Motor Company in Industrial Relations and has also held senior roles in 3i Group plc (Group HR Director), EY (partner), Standard Chartered plc and HSBC plc.

Read more

Alan Giles OBE

Chairman of The Remuneration Consultants Group and Non-Executive Director of Murray Income Trust plc

Alan is Chairman of The Remuneration Consultants Group and a Non-Executive Director of Murray Income Trust plc. He is an Associate Fellow of Saïd Business School, University of Oxford, and an Honorary Visiting Professor at Bayes Business School, City, University of London.

Alan has extensive remuneration experience, having chaired the Remuneration Committee at Foxtons plc from 2019 until 2023, and Rentokil Initial plc from 2012 until 2017. Other non-executive roles include The Competition & Markets Authority, Wilson Bowden plc, Somerfield plc and Fat Face, where he was Chairman from 2006 until 2013. Earlier in his career held senior executive roles at Waterstones, WH Smith Group and Boots. He formed HMV Group as Chief Executive in 1998 and led the Group through its London Stock Exchange IPO in 2002, before moving to a portfolio career in 2006.

He was awarded an OBE for services to business and the UK economy in 2018.

Read more

Rakhi Goss-Custard

Non-executive Director, Schroders, Kingfisher and Trainline

Rakhi is an experienced non-executive director with extensive public company board experience. She is currently on the board of Schroders (where she sits on the Audit and Risk committee), Kingfisher (including Audit, Remuneration and Responsible Business committees), and Trainline (where she chairs the Remuneration committee). Rakhi is also on the board of privately-owned Nisbets, where she chairs the Digital and Marketing committee. She recently stepped down from the board of Rightmove having completed a 9 year tenure.

Rakhi has deep knowledge of leading successful businesses in digital, retail, and media. In her executive career, Rakhi spent over 12 years with Amazon, having served on the Executive Team with P&L responsibility across a wide range of sectors, including high-growth, mature, and digital categories. During her time at Amazon, Rakhi had UK-wide responsibility for pricing where she established the first formal pricing policy and developed the approach to competitive price matching across the company. Her experience at Amazon included the launch of new digital categories at Amazon, and leading the transition from physical to digital media. Applying the Amazon leadership principles to her work, and deploying them to assess potential talent was a key part of her management approach.

Rakhi’s expertise is centred on analytics, operational execution, and a strong focus on hiring and development. Prior to Amazon, her career foundations included start-ups, as well as strategy consulting at Oliver Wyman. She has also served as a Governor of Lambrook School in Berkshire.

Read more

Join PARC today

  • Become part of our community of Senior Performance and Reward Leaders
  • Access facilitated connections with confidential, peer exchange and discussion
  • Join our special interest and focused working groups
  • Attend our programme of events relating to organisational performance and reward strategy
  • Gain network insight and timely perspectives via PARC’s member query service and Pulse Surveys
  • Team access to our development programmes for future reward leaders
  • Invitations to off-programme, confidential, member-led discussions

Forgot your password?

Don’t have an account? Become a member and gain access to:

  • Research and resources for HR and Reward leaders
  • Regular online and in-person events on business and reward topics
  • Advisory support including member surveys, curated content and insights from experts
  • Brokered connections with HR and Reward leaders to share knowledge and good practice
  • Development programmes for future reward leaders

Please log in to your account before submitting.