Welcome to the February 2019 issue of GuerdonNews^®

 In this calendar year's first newsletter we:

• Analyse FY 2018 ASX 300 CEO Remuneration increases

• Look into our crystal ball for what calendar 2019 will hold for director and executive remuneration

• Examine FY 2018 NED fee trends

• Consider executive remuneration implications arising from the Hayne Royal Commission's Final Report

• Describe the new UK pay ratio disclosure rules that the Labor Party is expected to use as a model if it wins the next federal election

• Describe what the Hayne Royal Commission requires of boards re front-line staff remuneration

• Note ACSI's call for a binding vote on executive pay

• Confirm some of the panellists for the 13th Remuneration and Governance Forum - 7 March in Melbourne, and 11 March in Perth. 

We conclude with executive and director remuneration disclosure updates available on the GuerdonData® on-line database and references to Guerdon Associates in the news media since our last newsletter.

ASX 300 FY 2018 CEO Remuneration Increases

Despite a torrid year for remuneration strikes, CEO pay increases were, if anything, more modest  

Almost 40% of CEOs did not receive any increase in fixed pay, almost 43% saw a decline in annual incentive, while LTIs were higher.

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The outlook and issues for Australian director and executive pay in 2019

What will 2019 hold for director and executive remuneration?

Our predictions involve engagement, alternative remuneration frameworks, the impact of Commissioner Hayne's recommendations, and the reappearance of a previously out of favour measure, among others. 

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NED Fees Varied Extensively by Sector - Trends in 2018

Changes in NED fees in 2018 are presented by sector, position and size 

Median increase in director fees were lower than prior.

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Hayne Royal Commission and Executive Remuneration 

We dissect the implications of the Final Report from the Hayne Royal Commission 

We provide a summary of Commissioner Hayne’s recommendations regarding executive remuneration. He touches on disclosure, clawback and design vs implementation . 

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CEO Pay Ratios - what the Labor Party may use post election

The new UK disclosure rules

New rules that require UK companies of a certain size to disclose ratio between CEO pay and median employee’s pay may make their way to Australia - according to the Australian Labor Party

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Front-Line Staff Remuneration

Bank front-line staff remuneration receives scrutiny from the Royal Commission

Key recommendations relate to the Sedgwick Report and what staff do and how they do it.

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ACSI makes call for binding vote on executive pay

CEO of ACSI calls for UK-like binding vote

It would be a significant step were Australia to follow in the UK's footsteps.

Read more

Remuneration and governance post Hayne – Forum update

The afternoon of 7 March in Melbourne, and morning of 11 March in Perth

These panellists will have a lot to say regarding the banking Royal Commission, governance, ethics, culture and executive pay.

Read more

Guerdon Associates in the news

• “Pay backlash just the fallout from lack of trust in directors, say experts”, Jemima White and James Thomson, Australian Financial Review, Dec 19, 2018

• “Banking royal commission: Industry funds call for binding say on executive pay”, Patrick Durkin, Australian Financial Review, Feb 4, 2019 

Latest GuerdonData^® Updates

Updates to GuerdonData^®  this month include disclosures from the following 2 companies: 

CIMIC GROUP LIMITED, TECHNOLOGY ONE LIMITED.

Executive and director remuneration data from all ASX 300 companies on GuerdonData® is available to any subscriber. Visit our website for more information on GuerdonData®.

Assess how easily you can find out director and executive pay information by viewing our 6 minute demo HERE.

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The information, analysis and opinion in this e-mail and attachments are intended to be for informational purposes only. Analyses are based on information taken from public documents or private surveys, and we do not represent to its accuracy. Guerdon Associates assumes no liability for the use or interpretation of information contained herein. This publication is provided 'as is' without warranty of any kind, either expressed or implied, including, but not limited to, the implied warranties of marketability, fitness for a particular purpose, or non-infringement of third party rights.