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I know this is a rediculous question to some of you but i just want to know if non-execs get paid anything and if they do what is the nature and extent of payment.
Hi
Yes they do.
The remuneration of NEDs is determined by the board or the SHs…’within the limits prescibed by the company’s constitution’. (UK CGC)
Basically… their fees will differ from company to company, and because the remuneration committee comprises of solely NEDS, they determine the remuneration of executive directors, but it would go against corporate governance & best practice, if they were able to determine their own remuneration, and also against the characteristics of Non Executive Directors, such as… Independence, Integrity, Objectivity.
Does this make sense?
Raza
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