We have unique expertise in executive KMP remuneration
Established in 2001, GRG has been an independent expert provider of comprehensive executive remuneration services. Our solutions and insightful recommendations help boards navigate the complexities of executive remuneration, which is often compounded with ever changing complex governance and compliance issues, increasing and conflicting scrutiny from shareholders, a disparate array of stakeholders, the media and regulators.
Our KMP remuneration services are comprehensive and range from partnering with clients to design remuneration strategies, review and design incentive plans (STI and LTI) and conduct bespoke market remuneration benchmarking research, to mention but a few.
Our consulting services, advice and recommendations aim to be clear, precise and transparent so that boards can manage these issues cost-effectively and strategically.
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Keep ahead of regulatory and governance changes in executive remuneration
Regulatory changes have had a significant impact upon remuneration practices and governance in Australia, and remuneration issues are now a major focus of boards and shareholders alike. Most notable of these changes are:
- New Corporations Act compliance requirements apply to employee share schemes from 1 October 2022, requiring amendments to documentation.
- The introduction of the “Two Strikes” provision which means that any Australian ASX listed company that receives a negative vote of 25% or more on the Remuneration Report is deemed to have received a “strike”. Upon the occurrence of two consecutive strikes, a “spill motion” is now mandated that has the potential to radically change the leadership of the organisation.
- The amendments to the Corporations Act making it an offence for external remuneration consultants (ERCs) to provide recommendations regarding the remuneration quantum or elements of KMP remuneration to any individuals other than a non-executive director of the company.
- The 2009 changes to ESS (Employee Share Scheme) taxation laws, which have created a number of issues for short and long term incentives, as well as termination arrangements.
These are just a few examples of how regulations have been changing the remuneration landscape. GRG has always kept ahead of regulatory and governance issues and have developed innovative and efficient solutions to all remuneration matters.
