THURSDAY, 15 APR 2021

 

CONNECT

Facebook Linked In Twitter
GAP Vassilopoulos
GloriaJeans_266x90px
IMH LTD

Natasa Pilides Briefs EU Commissioner On Cyprus National Energy And Climate Plan

Nicos Christodoulides: Sovereign Equality Cannot Be Accepted

IMH LTD

SERVICES

brought to you by Barclays

KPMG Cyprus Audit Committee Institute: Directors Remuneration and Performance

KPMG Cyprus Audit Committee Institute: Directors Remuneration and Performance

The KPMG Cyprus Audit Committee Institute (ACI), in collaboration with INSEAD Independent Directors Network, organised an event with the subject: “Directors Remuneration and Performance”. The event took place on the 12th of November at KPMG offices in Nicosia, with the objective of discussing the importance of selecting the right Directors for the Board, as well as the challenge of deciding the appropriate remuneration and how this is linked with performance. The event was under the auspices of the British High Commission Nicosia.

Michael Antoniades, Chairman of KPMG in Cyprus and Petros Mavrommatis, Principal and Vice Chairman of KPMG Cyprus ACI, welcomed the attendees on behalf of the Firm and the Institute, respectively. Panayiotis Peleties, Board Member and Chairman of KPMG Cyprus ACI, talked about the importance for organisations to be in a position to attract Directors who have the appropriate skills and expertise required to effectively meet their terms of reference. In addition, he noted that there is a close link between remuneration and time spent by Directors to fulfil their duties. He then presented the key findings of a survey with participation of more than 2.300 Directors conducted by Global KPMG Audit Committee Institute and Board Leadership Centre.

A short speech followed by the British High Commissioner Stephen Lillie CMG, who stressed the challenge of getting the right balance between Directors’ remuneration and shareholders’ rights. The Commissioner made reference to newly-introduced UK regulations that increase transparency in Directors’ remuneration and strengthen the rights of the shareholders to object to what they consider inexcusable remunerations. He explained that the new regulations provide the shareholders and the public with the tools and information they need to evaluate if remuneration is related to performance.

The keynote speaker of the event was Helen Pitcher OBE, who addressed the event as President of the INSEAD Independent Directors Network. She analysed the varied roles of a modern Non Executive Director (NED) and stressed the importance for organisations to reward NEDs based on measurable criteria. As Ms. Pitcher explained, NEDs are those that provide business, strategic, functional and cultural oversight to their organisations, thus generating added value. Ms. Pitcher then outlined what skills should Board of Directors and shareholders seek when recruiting, in order to increase their Board’s capabilities and effectiveness. Her presentation concluded with an analysis on the importance of maintaining NED independence.

A Q&A session coordinated by Mr. Mavrommatis followed and the participants had the opportunity to raise questions and exchange views. A reception followed the event.

MORE ON SERVICES

2021 KPMG CEO Outlook Pulse Survey: Nearly Half Of Global CEOs Do Not Expect To See A Return To ‘Normal’ Until 2022

CEOs of the world’s most influential companies are planning what the ‘new ...

KPMG In Cyprus Announces Its Partnership With Energyintel

KPMG in Cyprus and EnergyIntel have signed a partnership agreement for the provision of ...

Infocredit Group-LexisNexis (RELX Group): A Stronger Alliance

Infocredit Group and LexisNexis, subsidiary of multinational company RELX Group and ...

FROM AROUND GOLDNEWS

   

GOLD Magazine May Issue Presents, Special Feature: CYBERSECURITY IN CYPRUS

ICT COMPANIES   • TELECOMMUNICATIONS SERVICE PROVIDERS • INTERNET SERVICE PROVIDERS • CYBERSECURITY EXPERTS • ...
   

A Year Before The Vote, Who Is Bidding To Be France's Next President?

With just a year until the French head to the polls to elect a new president, those hoping to replace Emmanuel Macron are emerging from the shadows. Macron, ...
   

Toshiba President Steps Down Amid $20bn Buyout Bid

Toshiba's chief executive resigned on Wednesday amid controversy over a $20bn (£14.5bn) buyout bid from private equity firm, CVC Capital Partners. ...
   

History Has a Face: Virtual Exhibition at the Bank of Cyprus Cultural Foundation

Outdoor exhibition in the historical centre of Old Nicosia and virtual exhibition at the Bank of Cyprus Cultural Foundation commemorates the 200th anniversary ...
   

New Educational Programme By PwC And Junior Achievement

As part of their long-standing collaboration, PwC and Junior Achievement are launching this year, on a pilot basis, a new programme entitled “Our ...
   

Buying Property And Living In Cyprus Post-Brexit

  Esme Palas, Partner at Michael Kyprianou & Co LLC answers important questions and provides significant insight and advice to UK Nationals with ...
   

Cyprus Chief Scientist And IDEA Startup Accelerator Join Hands

Aiming to promote Cyprus as a regional innovation hub, the country`s Chief Scientist Nikolas Mastroyiannopoulos and chairman of the board of startup ...
   

Natasa Pilides Briefs EU Commissioner On Cyprus National Energy And Climate Plan

Energy, Commerce and Industry Minister, Natasa Pilides, briefed on Tuesday the EU Commissioner for Energy, Kadri Simson, about developments as regards the ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Gold_Limassol_Issue_May
Enter_Cy_10/20-4/23

IMH LTD