Anglo American Annual Report 2012

2.5 Development ofdirector remuneration policyIn developing and reviewing theCompany’s remuneration policyfor executive directors and othersenior executives, the Committee isreceptive to the views of shareholdersand sensitive to the relationshipbetween the arrangements forexecutive directors and those forother employee groups.Specifically:• Whenever any significant changesare made to remuneration, theCommittee seeks feedback frominvestors. The Committeealso listens to and takes intoconsideration investor viewsthroughout the year. For example,following investor feedback, theCommittee has decided, with effectfrom 2013, to withdraw the abilityof executive directors and otherexecutives to defer additionalamounts of bonus into shares andreceive correspondingly higherawards of Enhancement Shares;• The Committee considers thegeneral basic salary increasefor the broader UK employeepopulation when determining theannual salary increases for theexecutive directors. For 2012and 2013, the rate of basic salaryincrease for the chief executiveand the finance director has beenthe same as or lower than thegeneral increase for the UKemployee population (at 4%and 0% respectively);• Each year the Committeealso reviews in detail how thearrangements for the executivedirectors compare to those forother members of the GroupManagement Committee andExecutive Committee to ensurean appropriate relationship andto support career developmentand succession.Figure 5: Terms of service – Executive directorsFigure 6: Terms of service – Non-executive directorsSir John ParkerChairman andChairman, NominationCommitteeDate of initialappointmentDate of initialappointmentNext AGM re-electionor electionCynthia Carroll Chief Executive 15 January 2007 n/aRené Médori Finance Director 01 June 2005 April 2013Next AGM re-electionor election09 July 2009 April 2013David ChallenSID and Chairman, 09 September 2002 April 2013Audit CommitteeSir CK Chow 15 April 2008 April 2013Sir Philip Hampton Chairman,RemunerationCommittee09 November 2009 April 2013Phuthuma Nhleko 09 March 2011 April 2013Ray O’Rourke 11 December 2009 April 2013Mamphela Ramphele (resigned 2012) 25 April 2006 n/aAnne Stevens 14 May 2012 April 2013Jack Thompson 16 November 2009 April 2013Peter WoickeChairman,S&SD Committee(retiring 2013)01 January 2006 n/aGiven the geographic spread ofthe Company’s workforce, theCommittee does not consider thatconsulting with employees on theremuneration policy for directors isa viable use of resources. Many ofthe Company’s UK-based employeesare shareholders, through the SAYEand SIP schemes and they, like othershareholders, are able to expresstheir views on director remunerationat each general meeting.GovernanceAnglo American plc Annual Report 2012 115