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1.2 Membership of the Committee

The Committee comprised the following non-executive directors during the year ended 31 December 2008:

  • Sir Rob Margetts (chairman);
  • David Challen;
  • Chris Fay; and
  • Sir Mark Moody-Stuart.

The Company’s chief executive attends the Committee meetings by invitation and assists the Committee in its considerations, except when issues relating to her own compensation are discussed. No directors are involved in deciding their own remuneration. In 2008, the Committee was advised by the Company’s Human Resources and Finance functions and, specifically, Russell King, Mervyn Walker and Chris Corrin. It also took external advice as shown in Figure 1.

Certain overseas operations within the Group are also provided with audit and non-audit related services from PwC’s, Mercer’s and Deloitte’s worldwide member firms.

A summary of the letter from Mercer containing the conclusions of their review of the Committee’s executive remuneration processes for 2008 is set out at independent remuneration report review, while the full letter can be found on the Company’s website.

Figure 1: External advice provided to the Remuneration Committee
Advisers Services provided to the Committee Other services provided to the Company
PricewaterhouseCoopers LLP
(PwC)

Appointed by the Company, with the agreement of the
Committee, to provide specialist valuation services
Investment advisers, actuaries and auditors for various pension schemes; advisers on internal audit projects and the adoption of International Financial Reporting Standards; taxation, payroll and executive compensation advice
Monks Partnership
(a subsidiary of PwC)
Appointed by the Company, with the agreement of the
Committee, to provide market remuneration data
 
Linklaters LLP
(Linklaters)
Appointed by the Company, with the agreement of the Committee, to provide legal advice on long-term incentives and directors service contracts Legal advice on certain corporate matters
Mercer Limited (Mercer) Engaged by the Committee to review the Committee’s processes on an annual basis, in order to provide shareholders with assurance that the remuneration processes the Committee has followed are in line with stated policy and that the Committee has operated within its Terms of Reference Investment advisers and actuaries for various pension schemes
Deloitte LLP
(Deloitte)
  In their capacity as Group auditors, Deloitte undertakes an audit of sections 10 and 11 of the remuneration report annually. However, they provide no advice to the Committee