Experian - AGM 22 July 2020
Item 2: Advisory vote on Remuneration report
In aggregate, Brian Cassin the CEO of Experian was granted a total remuneration of £7,623,804 (-4.2%), of which 84% is variable. The variable incentive is 6.7x the base salary. The CEO's total remuneration corresponds to 197% of the median CEO remuneration of Irish companies in the MSCI Europe index or 251% of the Industrial
Goods and Services sector median.
According to the reported UK single figure (remuneration based on vested LTI), Brian Cassin gained in 2019/20 £10.3m, the same amount as in the previous FY. It corresponds to 286% of the FTSE100 median. To justify this excessive pay, Experian points out that 40% of the LTI vested single figure or 29% of the total single figure remuneration is directly attributable to share price growth and accrued dividends.
Item 3: Advisory vote on Remuneration policy
The CEO's maximum variable remuneration (both short-term and long-term) is 800% (1000% in exceptional circumstances), which grossly exceeds our limit of 300% of the base salary. The remuneration package is excessively weighted towards performance-pay while the incentive performance targets are not considered robust enough for such a high opportunity.
Experian is an information services group. Co. has four businesses: Credit Services, which collects data to analyze the credit histories of people and businesses, sorting through information about the credit they applied for and how they repaid the credit; Decision Analytics, which combines Co.'s data with data from its clients and third parties, and uses software and analytics to access, organize and analyze this data to help its clients to minimize the risk of fraud; Marketing Services, which helps Co.'s clients to plan, build and deliver their marketing campaigns; and Consumer Services, which, among others, monitors the information in people's credit reports for suspected fraud patterns.
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