Remuneration Survey For
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New Zealand Directors’ Fees Survey Introduction This report covers the results of a survey of current trends and practices relating to the payment of Directors’ fees within New Zealand organisations. This is the twenty second survey conducted by Strategic Pay. The 2015 report draws on detailed remuneration data for approximately 2,220 directorships representing 362 organisations. The survey report combines information from three sources: + organisations from the Strategic Pay database; + questionnaires sent to Strategic Pay master mailing list; + publicly available annual reports and NZX listings. The 2015 report represents whole board data from the organisations listed on page 3. The core of the survey contains schedules detailing quartile amounts of fees for each class of director. Policy and practice results are reported on separately. This report will assist organisations in making informed remuneration-related decisions. In addition, the results of this survey provide a means of comparison for assessing the degree to which individual remuneration rates are competitive with the market. As the market leader in strategic remuneration and performance management, Strategic Pay helps organisations improve their performance by ensuring remuneration and rewards are closely linked to business objectives, and by providing a compelling proposition that attracts, retains and motivates the best people. Strategic Pay offers an unrivalled suite of nation-wide and specialist industry sector market surveys, based on a database of pay information for over 120,000 New Zealand employees. This rich data source gives our clients access to better and broader comparative information to effectively benchmark their remuneration and rewards packages. The report provides: Schedules of Directors’ Fees Detailed schedules on annual fees are provided for the following categories: + Non-Executive Chairmen + Non-Executive Deputy Chairmen + Non-Executive Directors + Chair vs. Director Fee Relationships + Deputy Chair Fees Ratio + Executive Board Members Summary information for: + Executive Chairmen + Executive Directors © 2015, Strategic Pay Limited Overview: New Zealand Directors’ Fees Report 2015 | Page 1 of 8 Board Policy and Practice Analysis + Board Demographics + Board Meetings + Board Committees + Board Fees + Expected Directorship Effort The 2015 report also includes special analysis on the Directors’ Fees in the Not for Profit sector. The Not for Profit section covers the results of a survey of current trends and practices relating to the payment of Directors’ Fees within New Zealand Not for Profit organisations. Overall responses from 151 Not for Profit organisations with 147 submissions for policies and practices information. Participating Organisation Demographics The following participant demographic information reflects the 355 boards represented in the survey. Organisation Type Organisation Region © 2015, Strategic Pay Limited Overview: New Zealand Directors’ Fees Report 2015 | Page 2 of 8 Participants The 2015 report draws on detailed remuneration data for approximately 2,220 directorships representing 362 organisations. The following organisations participated in the 2015 survey: 2degrees Mobile Limited Comvita New Zealand Limited Health Benefits Limited A2 Milk Corporation Limited Contact Energy Limited Health Research Council of New Abano Healthcare Group Limited Counties Manukau District Health Zealand Accident Compensation Board HealthAlliance Corporation Counties Power Limited Heartland Bank Acurity Health Group Limited Creative New Zealand Heartland New Zealand Limited AgResearch Limited Crown Fibre Holdings Limited Hellaby Holdings Limited Air New Zealand Limited DairyNZ Limited Heritage New Zealand Airways New Zealand Limited Deer Industry New Zealand Hilton Haulage Transport Limited Airwork Holdings Limited Delegat Limited Horizon Energy Distribution Limited Alliance Group Limited Delta Utility Services Limited Housing New Zealand Corporation Allied Farmers Limited DNZ Property Fund Limited Hutt Valley District Health Board Alpine Energy Limited Dorchester Pacific Limited Infratil Limited Antarctica New Zealand Dunedin City Holdings Limited Institute of Environmental Science Aoraki Polytechnic Dunedin International Airport and Research Limited Aorere Resources Limited Limited Institute of Geological and Nuclear Aotearoa Fisheries Limited Earthquake Commission Sciences Limited Appliance Connexion Limited Eastern Institute of Technology Intermed Medical Limited ARANZ Medical Limited Eastland Group Limited Jade Software Corporation Limited Argosy Property Limited EastPack Limited Just Water International Limited AsureQuality New Zealand Limited EBOS Group Limited Kathmandu Holdings Limited Atihau-Whanganui Incorporation Electra Limited King Country Energy Company Auckland Council Electricity Ashburton (EA) Networks Kingfish Limited Auckland Council Investments Enable Networks Limited Kirkcaldie and Stains Limited Limited Energy Efficiency and Conservation Kiwi Income Property Trust Auckland Council Property Limited Authority KiwiRail Limited Auckland District Health Board Energy Mad Limited Kordia Group Limited Auckland International Airport Enprise Solutions Limited Lakes District Health Board Limited Environment Southland Landcare Research New Zealand Auckland Tourism Events and Environmental Protection Authority Limited Economic Development Limited EROAD Limited Landcorp Farming Limited Auckland Transport Fairway (was Dispute Resolution Lateral Corporation Limited Auckland University of Technology Services Limited) Les Mills International Augusta Capital Limited Far North Holdings Limited Livestock Improvement Corporation Aurora Energy Farmers Mutual Group Limited Aviation Security Service Farmlands Co-operative Society Lyttelton Port Company Limited AWF Group Limited Limited Mainfreight Limited Babbage Consultants Limited Fidelity Life Assurance Company Mainpower New Zealand Limited Ballance Agri-Nutrients Limited Limited Manukau Institute of Technology Barramundi Limited Financial Markets Authority Maori Television Service Barrhill Chertsey Irrigation Limited Finzsoft Solutions Limited Maritime New Zealand Bathurst Resources Limited Fisher & Paykel Healthcare Marlborough Lines Limited Bay of Plenty District Health Board Corporation Limited Marlin Global Limited Bay of Plenty Polytechnic Fletcher Building Limited Marsden Maritime Holdings Beef + Lamb New Zealand Foley Family Wines Limited Massey University BGT Structures Fonterra Co-operative Group Medical Assurance Society BLIS Technologies Limited Limited Mercer Group Limited Briscoe Group Limited Freightways Limited Meridian Energy Limited Broadcasting Standards Authority Freshpork New Zealand Limited Meteorological Service of New Buller Electricity Limited Genesis Energy Limited Zealand Limited Burger Fuel Worldwide Limited Gentrack Group Limited Methven Limited Callaghan Innovation GeoOp Limited Metlifecare Limited Canterbury District Health Board GFNZ Group Limited MG Marketing Capital and Coast District Health GNS Science Michael Hill International Limited Board Go Bus Transport MidCentral District Health Board Careers New Zealand Goodman Fielder New Zealand Mighty River Power Limited Cavalier Corporation Limited Limited Millennium & Copthorne Hotels CDC Pharmaceuticals Limited Goodman Property Trust (NZ) Limited CDL Investments New Zealand Gough Group Moa Group Limited Limited Government Superannuation Fund Motor Trade Finances Limited Central Region's Technical Authority Mowbray Collectables Limited Advisory Services Limited Grant Thornton New Zealand Mykris Limited Centralines Limited National Institute of Water and Centreport Limited Green Cross Health Atmospheric Research Chorus Limited Grow Wellington Limited Nelson Airport Limited Christchurch City Holdings Limited Guardians of New Zealand Nelson Electricity Christchurch International Airport Superannuation Fund Authority Nelson Marlborough District Health Limited Hallenstein Glasson Holdings Board City Care Limited Limited Nelson Marlborough Institute of City Forests Limited Harrison Grierson Consultants Technology Civil Aviation Authority of New Limited Nelson Regional EDA Zealand Hawke's Bay District Health Board Nelson Tasman Tourism © 2015, Strategic Pay Limited Overview: New Zealand Directors’ Fees Report 2015 | Page 3 of 8 Network Tasman Limited Port of Tauranga Limited Taieri Gorge Railway Limited Network Waitaki Limited Port Otago Limited Tainui Group Holdings Limited New Talisman Gold Mines Limited Port Taranaki Limited Tairawhiti District Health Board New Zealand Artificial Limb Board Ports of Auckland Limited Taranaki District Health Board New Zealand Automobile Powerco Limited TeamTalk Limited Association Inc. Powernet Limited Television New Zealand Limited New Zealand Blood Service Precinct Properties New Zealand Tenon Limited New Zealand Domain Name Limited Terrane Consultants Limited Registry Limited Primeport Timaru Tertiary Education Commission New Zealand Film Commission Promisia Integrated Limited Testing Laboratory Registration New Zealand Fire Service Property for Industry Limited Council Commission Public Trust Limited The Business Advisory Group New Zealand Institute for Plant and Pulse Energy The Colonial Motor Company Food Research Pumpkin Patch Limited Limited New Zealand Lotteries Commission Pyne Gould Corporation Limited The Co-operative Bank New Zealand Oil and Gas Limited Quayside Holdings Limited The Lines Company New Zealand On Air Queenstown Airport The Network for Learning