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In the Spotlight (2016 Highlights) Clover's vision and mission Clover at a glance Geographic footprint Group structure Our shareholders and shareholder Directorate
Introduction Chairman's report Chief Executive's report Chief Financial Officer's report Six year financial review Financial highlights
Overview of Clover's value creation Clover's business model CLOVER'S WAY FORWARD Way better value creation Clover's Timeline Clover's future value creation philosophy Strategy
Report on governance, risk and compliance Clover's risk universe King III Index Report of the Remuneration Committee Remuneration policy Remuneration mix Approach to executive remuneration Approach to non-executive director's remuneration Legacy scheme SARs issues
Six capital report Human capital Natural capital Manufactured capital Intellectual capital Social and relationship capital Financial capital Combined Assurance
Audit and risk committee report Approval of the financial statement Certificate by Company Secretary Independent Auditor's report Directors' report Consolidated statement of comprehensive income Consolidated statement of financial position Consolidated statement of changes in equity Consolidated statement of cash flows Notes to the consolidated financial statements Notes 1 - 10 Notes 11 - 20 Notes 21 - 30 Notes 31 - 34 Abbreviations Definitions
  • Clover's better way story and the shape of clover
  • Business review
  • How clover creates value
  • Governance, risk and compliance, and remuneration reports
  • Ethical operations – reporting on the 6 capitals
  • Annual financial statements
  •   BACK
  • In the Spotlight (2016 Highlights)
  • Clover's vision and mission
  • Clover at a glance
  • Geographic footprint
  • Group structure
  • Our shareholders and shareholder
  • Directorate
  •   BACK
  • Introduction
  • Chairman's report
  • Chief Executive's report
  • Chief Financial Officer's report
  • Six year financial review
  • Financial highlights
  •   BACK
  • Overview of Clover's value creation
  • Clover's business model
  • CLOVER'S WAY FORWARD
  • Way better value creation
  • Clover's Timeline
  • Clover's future value creation philosophy
  • Strategy
  •   BACK
  • Report on governance, risk and compliance
  • Clover's risk universe
  • King III Index
  • Report of the Remuneration Committee
  • Remuneration policy
  • Remuneration mix
  • Approach to executive remuneration
  • Approach to non-executive director's remuneration
  • Legacy scheme SARs issues
  •   BACK
  • Six capital report
  • Human capital
  • Natural capital
  • Manufactured capital
  • Intellectual capital
  • Social and relationship capital
  • Financial capital
  • Combined Assurance
  •   BACK
  • Audit and risk committee report
  • Approval of the financial statement
  • Certificate by Company Secretary
  • Independent Auditor's report
  • Directors' report
  • Consolidated statement of comprehensive income
  • Consolidated statement of financial position
  • Consolidated statement of changes in equity
  • Consolidated statement of cash flows
  • Notes to the consolidated financial statements
  • Notes 1 - 10
  • Notes 11 - 20
  • Notes 21 - 30
  • Notes 31 - 34
  • Abbreviations
  • Definitions

Governance, risk and compliance, and remuneration reports

  • Report on governance, risk and compliance
  • Clover's risk universe
  • King III Index
  • Report of the Remuneration Committee
  • Remuneration policy
  • Remuneration mix
  • Approach to executive remuneration
  • Approach to non-executive director's remuneration
  • Legacy scheme SARs issues

clover's amended remuneration policy

remuneration philosophy

Clover’s Remuneration Policy is aimed at attracting and retaining skills that will support the generation of returns on investment for shareholders in a manner that preserves Clover’s ongoing sustainability. In line with international best practice, this remuneration policy establishes remuneration practices that are fair, reasonable and market related, by combining short-term remuneration with longer-term incentives. It is designed to align the long-term interests of the executive and senior management (who have the most significant influence on sustained growth) with the interests of shareholders.

Clover’s Remuneration Policy is based on the following key principles:

  • Remuneration should support Clover’s strategies and be consistent with the organisation’s culture of fairness and equity
  • Remuneration should take into account Clover’s size, the complexity of the business and the competitive environment
  • By attracting and retaining appropriate talent, remuneration should support Clover’s vision to be the most admired branded consumer goods company in South Africa and other emerging markets
  • Remuneration should directly correlate with Clover’s growth objectives, financial performance targets and actual achievements
  • Remuneration should be reviewed and benchmarked regularly through independent service providers to ensure that Clover remains competitive in its diverse markets. Percentiles should not be rigidly applied, but must take into account industry type, skills scarcity, performance, and legislative structures and requirements
  • Remuneration should motivate and allow for differentiation (i.e. reward high performers)
  • Individual contributions, based on role and responsibilities, should have a direct bearing on levels of remuneration.

GOVERNANCE

Clover’s Remuneration Committee is a subcommittee of the Board and oversees the approach to and governance of remuneration matters. It also determines the remuneration of Executive Directors, other executives as well as recommending the remuneration of Non-Executive Directors. These are ultimately approved by shareholders. Details on Remuneration Committee members, meetings and attendance are set out in the Corporate Governance section of this Annual Integrated Report, here. The Remuneration Committee actively engages with independent advisors and stakeholders, to ensure that the remuneration policy and practices are aligned to best practice and achieve Clover’s objectives. The Executive Committee determines and approves the remuneration structures for all non-executive employees in line with the existing remuneration mix set out here.

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downloads
Integrated Report
Annual Financial Statements
PRODUCT GALLERY
AGM

Date: Monday, 28 November 2016 at 10am
Venue: Clover Headquarters
 Notice to AGM
  Proxy

CONTACT

Head Office
200 Constantia Drive, Constantia Kloof,
1709, Johannesburg
Tel: +27 (0)11 471 1400

downloads
Integrated Report
Annual Financial Statements
PRODUCT GALLERY
AGM

Date: Monday, 28 November 2016 at 10am
Venue: Clover Headquarters
 Notice to AGM
  Proxy

CONTACT

Head Office
200 Constantia Drive, Constantia Kloof,
1709, Johannesburg
Tel: +27 (0)11 471 1400

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Disclaimer
 
Copyright Clover Limited 2016
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Disclaimer   Copyright Clover Limited 2016