41 Finsbury Food Group Annual Report & Accounts 2019
Directors’ Remuneration Report (unaudited)
The full policy can be viewed in the investor section of the website at
www.finsburyfoods.co.uk/investor-relations/corporate-governance.
The main aim of the Company’s policy is to align the interests of Executive Directors with the Company’s strategic vision and the long-term creation of shareholder value. The Company aims to provide returns to shareholders through both organic and acquisitive growth. The policy is intended to remunerate our Executive Directors competitively and appropriately for effective delivery of this and allows them to share in this success and the value delivered to shareholders. The policy is based on a broad set of remuneration principles:
• Promote shareholder value creation • Support the business strategy • Promote sound risk management • Ensure that the interests of the Directors are aligned with the long-term interests of shareholders • Deliver a competitive level of pay for the Directors without paying more than is necessary to recruit and retain individuals • Ensure that the Executive Directors are rewarded for the contribution to the success of the Group and share in the success delivered to shareholders and
• Motivate the Directors to deliver enhanced sustainable performance
Unaudited Annual Report on Remuneration Single Total Figure of Remuneration The tables below detail the total remuneration earned by each Director in respect of the financial years ended 29 June 2019 and 30 June 2018:
2019
Executive Directors J G Duffy S A Boyd
Non-Executive Directors P Baker
R Beveridge R P E Duignan M J Millard Z Morgan
Salaries/ fees
£000
benefits £000
Taxable
Annual bonus £000
LTIP1 £000
remuneration £000
Total
420 294
714
85 56 57 53 59
310 1,024 2018
Executive Directors J G Duffy S A Boyd
Non-Executive Directors P Baker
R Beveridge R P E Duignan M J Millard Z Morgan
Salaries/ fees
£000
12 12
24
- - - - - -
24
benefits £000
Taxable
- -
-
- - - - - -
-
Annual bonus £000
- -
-
- - - - - -
-
LTIP1 £000
432 306
738
85 56 57 53 59
310 1,048
remuneration £000
Total
403 284
687
85 54 58 53 56
306 993
1.
12 12
24
- - - - - -
24
- -
-
- - - - - -
-
764 555
1,319
- - - - - -
1,319
1,179 851
2,030
85 54 58 53 56
306 2,336
No long-term incentive awards vested with respect to performance period ending during 29 June 2019. Long-term incentive awards vested with respect to the performance period ended 30 June 2018 are subject to a two year holding period. The LTIP values for the year ended 30 June 2018 have been updated from the prior year to reflect the actual share price value at vesting which was 116.50p per share.
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