Item 2: Approve the Remuneration Report
The structure is weighted more towards rewarding long-term performance, but benefits and pension contributions exceed guidelines and accelerated vesting in the event of a change of control is possible. Moreover, actual and potential incentive pay is excessive and awarded amounts are excessive as compared to peers.
Item 18: Approve the new Articles of Association
Although the Company has provided information on key changes, they have not disclosed the new Articles.
Diageo is a premium drinks business based in the United Kingdom. Co. is engaged in producing and distributing spirits, beer and wine. Co.'s operations include producing, distilling, brewing, bottling, packaging, distributing, developing and marketing of a range of brands. The brands that it produces and distributes include Smirnoff vodka, Johnnie Walker scotch whisky, Baileys Original Irish Cream liqueur, Captain Morgan rum, J&B scotch whisky, Tanqueray gin and Guinness stout. In addition, Co. also has the distribution rights for the Jose Cuervo tequila brands in North America and other countries.
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