Overview of Publication

Publication content

 

The RemCom Subscription Library is a corporate governance reference work focussing on all aspects of the remuneration of senior executives.

 It deals with the corporate governance issues that may arise within the forum of the nominations and/or remuneration committees of the board – typically, on remuneration levels and remuneration policy affecting executive directors and senior executives; but also on related issues such as motivation and retention strategies, the management of talent, share schemes and profit-sharing.

It is a reference work in the true sense, with the subject-matter categorised electronically and accessible by key phrases and words.

The material is divided into six sections headed as follows:

♦  Corporate Governance of Remuneration

♦  The Remuneration Policy Framework

♦  The Guaranteed Pay Package

♦  Short-Term Incentives

♦  Long-Term Incentives
♦  Abstract of JSE Disclosed Information

Each section has chapters dividing the subject-matter into specific focus areas. The chapters are in turn divided into ‘topics’ which keep the subject matter organised and flowing in logical sequence. Each chapter is self-contained, and can be printed in a format suitable for presentation to the remuneration committee.

Appendices, where applicable, follow each chapter, presenting material which expands on the concepts contained in the chapter.  They include examples of charters, share and incentive scheme rules, and case study success stories. There are also extracts from the annual reports of listed companies which illustrate concepts and principles.  They also include tabulations or other results of research together with explanations and comments.  Appendices can be downloaded or printed independently of the chapters to which they relate.

The JSE Abstract of Disclosed Information database

The disclosed remuneration information of JSE-listed companies as published in annual reports, being in the ‘public domain’, is used extensively to define ‘best practice’ as it is to be found in SA. Regressed statistics are produced and updated quarterly giving pay curves for executive directors differentiated by sector and size; and also their exposure to equity gains through the medium of share-based schemes.

Average levels of fees payable to non-executive directors in terms of disclosed fee tariffs are presented, augmented by a special survey undertaken annually by Finrec to be able to arrive at an assessment of the fair ‘per diem’ or daily rate for independent non-executive directors.

PECS and other annual surveys

The publication draws heavily on the PECS Top Executive Remuneration Survey for market data on remuneration policies as they are to be found in the broader labour market. The PECS database is subscribed to by over 850 medium and large organizations employing between them over 5500 senior executives.

Two other annual surveys are undertaken by Finrec and the results are published here. These surveys address the following issues:

•    the time commitment and fee tariffs of non-executive directors
•    the share-based scheme grant policies of the Top 80 JSE companies

Updating and newsletters

The publication is updated monthly and monthly newsletters are circulated to users referring to topical developments in the corporate governance field affecting senior executive remuneration.

Downloading

Provided the user is registered, individual chapters and/or appendices can be downloaded to the work-station of the user, or printed directly from the web-site.