The remuneration committee adviser

Copyright © 2025 LexisNexis
Produced in partnership with Ruth Bender of Cranfield School of Management
Practice notes

The remuneration committee adviser

Copyright © 2025 LexisNexis

Produced in partnership with Ruth Bender of Cranfield School of Management

Practice notes
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STOP PRESS: A new version of the uk corporate governance code (UKCG Code) was issued on 22 January 2024 (2024 UKCG Code) and makes limited changes to the current version of the UKCG Code, which was issued in 2018 (2018 UKCG Code). The 2024 UKCG Code will apply to companies with accounting periods beginning on or after 1 January 2025 (with the exception of Provision 29 relating to the requirement for a board declaration in relation to internal controls, which will apply to accounting periods beginning on or after 1 January 2026). For further information, see News Analysis: UK Corporate Governance Code 2024 published—what’s changed?..

The UK Corporate Governance Code (UKCG Code) recommends that listing of equity shares in the equity shares (commercial companies) category, regardless of whether they are incorporated in the UK or elsewhere, establish a remuneration committee with delegated responsibility for determining the policy for executive director remuneration and setting remuneration for the chair, executive directors and senior management. Other quoted companies generally adopt similar structures to determine executive

Ruth Bender
Ruth Bender

Cranfield School of Management

Ruth Bender is a Professor of Corporate Financial Strategy at Cranfield School of Management. Prior to joining Cranfield, she was a partner in Grant Thornton where she specialised in corporate finance, she also worked for a while as an executive in private equity. She is the author of Corporate Financial Strategy, Routledge, currently in its 4th edition. Ruth's research interest is in the practical implications of corporate governance in large companies, mostly as it affects boards and board committees. In particular, she has worked with remuneration committees and audit committees of listed companies. Her PhD investigated how executive remuneration is determined in FTSE 350 companies, and her current research looks at the work of compensation consultants.

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Jurisdiction(s):
United Kingdom
Key definition:
Remuneration definition
What does Remuneration mean?

In a defined benefit scheme, the amount of pension earned is invariably related to the amount of salary; HMRC calls this remuneration. So far as scheme rules or an employer's policy is concerned, it can include or exclude bonuses, commission and other fluctuating emoluments.

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