Cranswick's Executive remuneration policy is continually monitored to ensure it is correctly aligned with the Group’s business strategy.
The Remuneration Committee considers the Group's remuneration policy to be an appropriate one which aims to properly reward performance in line with the Company’s business objectives to deliver growth and Shareholder value.
LINK BETWEEN POLICY, STRATEGY AND STRUCTURE
Our remuneration policy is principally designed to attract, motivate and retain Executive Directors and senior executives to execute effectively our corporate and business strategy in order to deliver annual operating plans and sustainable year-on-year profit growth, as well as to generate and preserve value to our shareholders over the longer term without encouraging excessive levels of risk taking. The principles and values that underpin the remuneration strategy are applied on a consistent basis for all Group employees.
It is the Group’s policy to reward all employees fairly, responsibly and by reference to local market practices, by providing an appropriate balance between fixed and variable remuneration.
DOWNLOAD THE REMUNERATION COMMITTEE REPORT FOR THE YEAR ENDED 31 MARCH 2018 HERE
A revised Remuneration Policy will be proposed at the Company’s forthcoming AGM on 30 July 2018, further details of which are set out in the Remuneration Committee Report included in the Company’s Annual Report and Accounts. Proposed changes include an increase in maximum LTIP awards from 150% of salary to 200% of salary, combined with an increase in the target for maximum vesting of the EPS element of awards to RPI +9% CAGR (from RPI +7% CAGR) and the target for maximum vesting of the TSR element increasing to upper decile (from upper quartile).