Etude l' AG du 28/07/2017
Item 2: Approve the Remuneration Report. The structure is weighted more towards rewarding long-term performance and the quantum is not excessive. However, the payout is not adequately aligned with performance as the LTIP targets are not challenging and overly reliant on a single performance criterion, EPS.
Item 3: Approve the Remuneration Policy. The changes proposed to the Remuneration Policy do not address the main concern over remuneration at the Company, which is the use of EPS as the sole performance condition for the LTIP. Instead, the increased award limit will allow an even higher percentage of remuneration to be determined by EPS.
Item 14: Appoint the Auditors. The auditor's tenure exceeds our tenure limit of 10 years. The Company conducted its last full tendering process in 1985. KPMG (and its predecessor entities) was first appointed in 1986.
Johnson Matthey is a provider of sustainable technologies. Co. operates in five divisions: Emission Control Technologies, a manufacturer of catalysts and catalyst systems that enable clean air; Process Technologies, a supplier of catalysts, licensing technologies and other services to the syngas, oleo/biochemical, petrochemical, oil refining and gas processing industries; Precious Metal Products, which include management, distribution, refining and recycling of precious metals, and fabricate products; Fine Chemicals, a supplier of active pharmaceutical ingredients and custom services for pharmaceutical customers; and New Business, which focuses on additional areas of potential growth.
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