United Utilities Group - Proxy report- 27/07/2018
Item 3: Approve the Remuneration Report
Structure is weighted more heavily towards short-term performance. Furthermore, the LTI is linked with dividend payments, which is not considered appropriate as executives can potentially influence the payout level. However, the quantum is not excessive and even maximum potential amounts are moderate. The LTI includes relative TSR as a performance metric.
Items 14 and 15: Re-appoint KPMG and authorise the Board to approve their remuneration
Non-audit fees are considered excessive on a three year aggregate basis and may undermine auditor independence.
United Utilities Group is a water company. Through its subsidiary, United Utilities Water Limited, Co. provides water and wastewater services to peoples in the North West of England.
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