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King IV recommends that remuneration
governing bodies should ensure that
the organisation remunerates fairly,
responsibly and transparently to
promote the achievement of strategic
objectives and positive outcomes in
the short, medium and long term.
Against this backdrop, MTN’s remuneration
policies aim to achieve the following:
•
•
Address the attraction and retention
challenges for the key skills required to achieve
the broader MTN objectives. We achieve this
objective by ensuring our policies are relevant
to address our corporate goals and
benchmarked appropriately against best
practice to maintain market competitiveness.
•
•
We provide a fair composition of fixed and
variable remuneration for each position. The
ratio of fixed to variable differs, with the
weighting of variable pay for executive
employees being greater than that of fixed.
Our pay mix ensures we deliver an effective
performance-based reward system where
achievement of stretched targets is
remunerated.
•
•
Both our short- and long-term incentive plans
provide an incentive for the achievement of
positive outcomes measured using a balanced
approach combining both financial and non-
financial metrics and measured across
company, team and individual performance.
Going forward, in aligning with the
recommendations of King IV, we aim to continue
disclosing the main provisions of our
remuneration policies including how such
remuneration was earned by executive
employees.
All strategic reward decisions are prepared and
guided by our executive management team for
approval by the remuneration and human
resources committee. This committee has
delegated approval authority at various levels
with its roles and responsibilities outlined on
page 64.
Non-binding advisory votes on the
remuneration policy and
implementation report
Each year, the remuneration policy and
implementation reportwill be tabled for separate
non-binding advisory votes by the shareholders
at the group’s annual general meeting (AGM).
The purpose of this exercise is to enable the
shareholders to express their views on the
policies adopted in the remuneration of
executive directors and on the implementation
of such policies.
In the event that less than 75% support for the
abovementioned reports is achieved at the AGM,
MTN will invite dissenting shareholders to
submit reasons for such votes in writing,
whereafter further engagements may be
scheduled with these shareholders.
MTN Group Limited
Integrated Report 2017
83
Governance, people
and remuneration