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The requirements of the corporations act 2001 and its

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Unformatted text preview: oup Limited Directors’ Report REMUNERATION REPORT (AUDITED) This report outlines the remuneration arrangements in place for directors and other key management personnel of Wellcom Group Limited (the Company) and the consolidated group (the Group) in accordance with the requirements of the Corporations Act 2001 and its regulations. The information provided in this remuneration report has been audited as required by section 308(3C) of the Corporations Act 2001. For personal use only Remuneration philosophy The performance of the Group depends upon the quality of its directors, executives and other key management personnel. Motivation and retention of skilled directors and other key management personnel is essential for the Group to achieve success and the resulting shareholder returns. The Group’s objective in its remuneration framework is to ensure director, executive and management rewards are reflective of performance, are competitive and appropriate for delivered results and are commensurate to the achievement of the Group’s strategic objectives and return to shareholders. The board is responsible for determining and reviewing compensation arrangements for all executive and nonexecutive directors and the senior management team. The board has appointed a Remuneration Committee to facilitate the Company’s remuneration framework and ensure the following criteria are satisfied: • • • • • Competitiveness to ensure retention of high calibre execut...
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