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McPHERSON’S LIMITED

 ANNUAL REPORT 2015

(K) REMUNERATION REPORT (CONTINUED)

Key management personnel covered in this report

Directors
The following persons were Directors of McPherson’s Limited during the financial year:

Chairman (Non-executive) 
D.J. Allman (resigned 1 July 2015)

Executive Director 
P.J. Maguire - Managing Director

Non-executive Directors
J.P. Clifford (resigned 23 February 2015)
G.A. Cubbin
A.M. Lacaze
J.M. McKellar (appointed 23 February 2015)

Other key management personnel
In addition to the Directors noted above, the following Group executives were also considered to be key management personnel during the financial 

year:

NAME

POSITION

S.K.S. Chan

Managing Director, McPherson’s Hong Kong

P. Witheridge

Chief Financial Officer and Company Secretary

G.P. Mitchell

General Manager, McPherson’s Consumer Products NZ

C. J. Muir

Global Supply Chain Director

Changes since the end of the reporting period

D.J. Allman resigned as Chairman and as a Non-Executive Director on 1 July 2015.
G.A. Cubbin was appointed Chairman of McPherson’s Limited on 1 July 2015.
G.P. Mitchell ceased to be a KMP of the Group on 1 July 2015 as a result of the Group’s divestment of 51% of its New Zealand Housewares business.
C.J. Muir left the Group on 31 July 2015.

Principles used to determine the nature and amount of remuneration

The objective of the Group’s executive reward framework is to ensure reward for performance is competitive and appropriate for the results 

delivered. The framework aligns executive reward with the achievement of strategic objectives and the creation of value for shareholders, and 

conforms with market practice for the delivery of rewards. The Board ensures that executive rewards satisfy the following key criteria for good 

reward governance practices:

 

•Competitiveness and reasonableness;

 

•Acceptability to shareholders;

 

•Performance linkage / alignment of executive compensation;

 

•Transparency; and 

 

•Capital management.
McPherson’s Limited has a remuneration policy and structure that is equitable, competitive and consistent so as to ensure the recruitment and 

retention of personnel of the capability, competence and experience necessary for the achievement of the Company’s strategies and goals.
The remuneration framework provides a mix of fixed and variable pay, and a blend of short and long-term incentives.
The overall level of executive reward takes into account the performance of the Group over a number of years, with greater emphasis given to the 

current year.  

DIRECTORS’ REPORT  

CONTINUED