8. REMUNERATION REPORT – AUDITED
RAMSAY HEALTH CARE LIMITED
5 Remuneration Governance
5.1 Remuneration Governance
As summarised below, the Board oversees the Ramsay people strategy, both directly and through the People & Remuneration Committee. The
People & Remuneration Committee seeks input from the MD & CEO and the Group Chief People Officer, who attend Committee meetings,
except where matters relating to their own remuneration are considered.
The remuneration related responsibilities of the Board include:
• satisfying itself that the Group’s remuneration framework is aligned
with the Group’s purpose, values, strategic objectives and risk
• setting performance targets for the MD & CEO and members of the
senior executive team, considering performance against those
targets and determining remuneration outcomes; and
• determining the remuneration of the MD & CEO and CFO.
People & Remuneration Committee
Primarily responsible for the consideration and recommendation of
alternative remuneration practices, to the Board. Consideration is given
to the many stakeholders in which the committee regularly interacts
with, including management, shareholders and external advisors.
• reviewing and making recommendations to the Board on the
remuneration arrangements of the MD & CEO and CFO, and
equity-based incentives across the Group;
• reviewing and approving remuneration arrangements for the senior
executive team, and remuneration policies and people practices for
the Group including monitoring the Group’s remuneration framework
for alignment to values, strategic objectives, long-term financial
soundness and risk appetite;
• review of remuneration by gender, effectiveness of people policies,
engagement survey results and succession planning;
• reviewing and recommending to the Board in relation to Director
fees, travel and other benefits.
Provides information relevant to the remuneration decisions and makes
recommendations to the People & Remuneration Committee. The MD &
CEO recommends the remuneration arrangements and performance
assessment of his direct reports.
Shareholders & other
Continued regular consultation with
shareholders and proxy advisors to ensure
remuneration practices are aligned to
Consultants & Other
Support the People & Remuneration
Committee by providing independent
advice on matters including:
• objective benchmarking data;
• market practices of other listed
• legal, tax and accounting advice; and
• alternatives for incentives plans.
Annual Report 2021 53