ASX 200 COVID-19 Induced Adjustments to Executive and Director Remuneration
08/04/2020
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Executive and director pay has not gone untouched during the COVID-19 pandemic and slump in oil price.

The main remuneration adjustments involve reductions in salary and no incentives for the financial year.

Salary reductions are typically from the ASX announcement until the end of the financial year, with the prospect of a review at that time. Incentive cancellations are usually short-term incentives, though some companies have forgone long-term incentive grants for FY20.

Guerdon Associates is collating ASX-listed company announcements on COVID-19 and oil price related remuneration adjustments. We will add in bushfire, flood, drought and other force majeure pay impacts as well, although we sincerely trust that 2020 has seen enough already. We are maintaining these in a continuously updated and detailed database.

Table 1 summarises the remuneration adjustments being applied to executive executives and non-executive directors (NEDs). The adjustments are collected primarily based on ASX announcements and are up to date as of 12pm on the 9th of April, 2020 (on this occasion, we have let staff have Easter off).

TFR refers to total fixed remuneration, STI refers to short-term incentive and LTI refers to long-term incentive. ‘$ND’ refers to a remuneration adjustment that was disclosed without its magnitude.

Table 1: ASX 200 companies remuneration adjustments

Screen-Shot-2020-04-09-at-1.50.49-pm-706

Screen-Shot-2020-04-09-at-1.52.25-pm-729

Other methods to help companies conserve cash and to keep people employed can be found HERE.

Guerdon Associates continues to monitor ASX 200 companies for remuneration adjustments. The full database considers change from pre COVID 19 market capitalisation to current market capitalisation. It also provides a direct link to each company’s ASX announcement of pay adjustments. Be our guest to view the full database HERE.

© Guerdon Associates 2021
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