Remuneration Committee

The CBI Board on 13 June 2016 agreed to establish a Remuneration Committee at the CBI, an initial informal meeting of the Remuneration Committee was held on 11th September 2016 with the first formal meeting of the committee held on 13 March 2017. The committee is scheduled to meet as required but at least twice per annum.

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Membership of Remuneration Committee

Committee members and the Chair of the Committee shall be appointed by the President with each such appointment being notified to and ratified by the Board. Only non-executive directors may be Committee members. There shall be at least two members of the Committee, each of whom shall be a non-executive director. If the number of members falls below two, the Board shall appoint a replacement.

Terms of Reference for Remuneration Committee

  • The Committee shall consider and make recommendations for the appointment and removal of Board members, and the President, in line with the CBI's charter;
  • The Committee shall review annually and determine the remuneration of the Non-Executive Board members, Director General and members of the CBI's Executive Committee. The position of Non-Executive Director on the CBI Board is an unpaid role;
  • The Committee will, on request from the Board, carry out a recruitment process, together with the President, for the post of Director General, should that post fall vacant;
  • The Committee shall determine any annual bonus payments, pension arrangements and other benefits to be made to the Director General and members of the CBI's Executive
  • Committee, and shall make its views on those matters known to the Board to ensure that they are considered in the context of any proposed business plan for the relevant year;
  • On behalf of the Board, the Committee is authorised to and shall determine the terms and conditions of employment for the Director General and members of the CBI's Executive Committee, including any arrangements/variations in connection with pension contributions where HMRC limits render any existing arrangements inefficient;
  • The Committee shall consider any proposal for a payment in excess of the contractual entitlements for members of the CBI's Executive Committee and Management Board, and in the event that it supports any such proposal, shall make its recommendation to the Board on each such proposal;
  • The Committee shall have oversight of the CBI's terms and conditions and reward strategy and shall receive reports (at least annually) on work being done to review that strategy or on recommendations for change to the strategy following such a review (including, where applicable, to comply with new legislative/regulatory requirements in connection with pay, pensions or any other kind of benefit);
  • The Committee shall ensure there is a periodic review of staff terms and conditions of employment and workforce planning arrangements to ensure they continue to be relevant to the market and the CBI's requirements;
  • The Committee shall oversee the CBI's approach to the delivery of training and personal development.
  • The Committee shall have oversight of the results of any staff engagement survey carried out by the CBI.

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