The Remuneration Committee comprises the Non-executive  Directors and was chaired by John Grant throughout 2018.  Roger McDowell replaced John as Chairman in December  2018. The principal objective of the Committee is to attract,  retain and motivate talented people with a competitive package  of incentives and awards linked to Group performance and  aligned with Shareholders’ interests.

The Committee met on three occasions during 2018, with  business including reviews of the remuneration for Executive  Directors, decisions relating to bonus awards and attainment,  Long Term Incentive Plans awards and attainment and  the award of a new cash Long Term Incentive Plan.  The Directors’ Remuneration Report includes the outcome of  these considerations.

The Committee uses the services of independent external  advisers as required. During 2018 the Remuneration Committee  received advice on the new Cash Long Term Incentive Plan  (referenced below) from Walker Morris LLP. It also received  advice on the vesting of the 2016 and 2017 LTIPs from  Deloitte LLP.

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TERMS OF REFERENCE FOR THE REMUNERATION COMMITTEE