Etude l' AG du 20/07/2017
Item 2: Approve the Remuneration Report. While quantum is not excessive, the structure of remuneration is unacceptable given the discretion of the committee over half of the bonus, which is determined by qualitative critieria, lack of disclosure of pension accrual rates and excessive pension contribution during the year. In addition, dividend per share is used with both the STI and the LTI, which is not considered appropriate as executives have a certain level of control over the dividend payout and therefore can influence the level of their incentive pay.
Item 13: Re-appoint the auditors. KPMG were appointed as the external auditor of the Company in 1999 and no formal tender of the external audit contract has been carried out since their appointment. The tenure of the auditor exceeds ECGS guidelines.
SSE is engaged in producing, generating, distributing and supplying electricity and gas, as well as other energy-related services, across the U.K. and Ireland. Co. has three principal business areas: Wholesale, which uses turbines to convert energy from gas, oil, coal, water and wind to generate electricity, trading in wholesale energy markets, and managing energy contracts; Networks, which transmits and distributes electricity and gas to homes and workplaces; and Retail, which supplies electricity and gas and related services to households and organizations.
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