Corporate Governance Report
3. Nomination, Compensation & HR Committee
Composition as at 31 December 2011:
Mohamed Al Hameli (Chairman), Eissa Al Suwaidi, Jean-Paul Villain, Khalid Deemas Al Suwaidi
Secretary: Sonya Santolin
Composition as at 31 December 2011:
Mohamed Al Hameli (Chairman), Eissa Al Suwaidi, Jean-Paul Villain, Khalid Deemas Al Suwaidi
Secretary: Sonya Santolin
Statement from the Chairman of the Nomination, Compensation & HR Committee
Remuneration and incentive rewards were designed to be performance target-based, to align with shareholders’ interests and best practices from a governance and risk perspective, and to ensure effective recruitment, retention and development of staff.
Mohamed Al Hameli
Chairman of the Board’s Nomination, Compensation & HR Committee
During 2011, the Nomination, Compensation & HR Committee met five times and considered the following matters
- selection and appointment of Directors
- Directors’ remuneration and fees
- CEO performance evaluation and remuneration
- Bank’s remuneration policy for directors, senior management and staff
- establishment of new variable pay schemes in line with international best practices
- compensation and bonus recommendations
- recruitment of senior management
- selection and appointment of senior management as directors to Bank associates
- succession planning for directors and senior management
- staff performance evaluations
- international corporate governance developments in remuneration
Remuneration and incentive rewards were designed to be performance target-based, to align with shareholders’ interests and best practices from a governance and risk perspective, and to ensure effective recruitment, retention and development of staff.
Mohamed Al Hameli
Chairman of the Board’s Nomination, Compensation & HR Committee