McPHERSON’S LIMITED
ANNUAL REPORT 2015
29
Superannuation
Retirement benefits are delivered by a number of superannuation funds selected by the Company or the executive. Executives receive
superannuation contributions in accordance with Superannuation Guarantee Charge (SGC) rules. However, executives may also direct the
Company to make additional superannuation contributions allocated from their base package amount, to any complying nominated
superannuation fund. The funds selected provide post-employment benefits to executives and other employees on an accumulation basis.
Performance assessment
The Company has a formal documented process for the performance evaluation of Directors and senior executives, which requires that a review
takes place on an annual basis. A performance assessment took place during the year for Directors, including the Managing Director, and other
senior executives.
Voting and comments made at the Company’s 2014 Annual General Meeting
McPherson’s Limited received 94.05% of “yes” votes on its remuneration report for the 2014 financial year. The Company did not receive any
specific feedback at the AGM or throughout the year on its remuneration practices.
Details of remuneration
Amounts of remuneration
Details of the remuneration of the Directors of McPherson’s Limited and the other key management personnel of McPherson’s Limited and the
McPherson’s Limited Group for the current and previous financial years are set out in the following tables.
2015
SHORT-TERM BENEFITS
POST-
EMPLOYMENT
BENEFITS
LONG-TERM
BENEFITS
SHARE-BASED
PAYMENTS
NAME
CASH
SALARY &
FEES
1
$
CASH
BONUS
2
$
NON-
MONETARY
BENEFITS
3
$
SUPER-
ANNUATION
$
LONG-SERVICE
LEAVE
$
PERFORMANCE
RIGHTS
$
TOTAL
$
Directors of McPherson’s Limited
D.J. Allman (Chairman)
4
125,819
-
-
22,491
-
-
148,310
P.J. Maguire (Managing Director)
593,382
275,000
27,752
25,000
30,645
(11,496)
940,283
G.A. Cubbin
5
76,937
-
-
7,238
-
-
84,175
A.M Lacaze
73,681
-
-
7,000
-
-
80,681
J.P. Clifford
6
45,186
-
-
4,293
-
-
49,479
J.M. McKellar
7
25,527
-
-
2,425
-
-
27,952
Total Directors’ Remuneration 2015
940,532
275,000
27,752
68,447
30,645
(11,496)
1,330,880
Other Group Key Management Personnel
S.K.S. Chan
454,751
-
-
42,588
-
(17,940)
479,399
G.P. Mitchell
8
259,953
-
31,108
24,083
1,870
-
317,014
C. J. Muir
9
224,613
25,013
32,216
35,521
2,848
(2,216)
317,995
P. Witheridge
326,350
155,000
-
35,000
6,105
(2,742)
519,713
Total Other Key Management Personnel
Remuneration 2015
1,265,667
180,013
63,324
137,192
10,823
(22,898)
1,634,121
Total Remuneration 2015 – Group
2,206,199
455,013
91,076
205,639
41,468
(34,394)
2,965,001
1. Cash salary and fees includes movements in the annual leave provision relating to the Managing Director and other executive key management personnel.
2. Excludes, where relevant, any part of the awarded bonus amount that was paid as a superannuation contribution. Refer page 31 for further information on bonuses awarded.
3. Non-monetary benefits comprise salary sacrificed components of remuneration packages including motor vehicles and related fringe benefits tax and allowances.
4. On 1 July 2015 Mr Allman resigned as Chairman and as a Non-Executive Director.
5. On 1 July 2015 Mr Cubbin was appointed Chairman of McPherson’s Limited.
6. Mr Clifford resigned as a Non-Executive Director on 23 February 2015.
7. Ms McKellar was appointed as a Non-Executive Director on 23 February 2015.
8. Mr Mitchell left the Group on 1 July 2015 as a result of the Group’s subsequent divestment of 51% of its New Zealand Housewares business.
9. Mr Muir left the Group on 31 July 2015.