3. Non-executive Director Fees
All Non-executive Directors of WSA are appointed by the Commonwealth of Australia through the Shareholder Ministers.
Fees for Non-executive Directors are set through the determinations of the Remuneration Tribunal, an independent statutory body overseeing the remuneration of key Commonwealth officers. The Company is regulated to comply with the Remuneration Tribunal’s determinations which are prescribed independently.
The Remuneration Tribunal sets annual Chair, Deputy Chair and Board fees which are inclusive of all activities undertaken by Non-executive Directors on behalf of the Company (that is, inclusive of Committee participation). Fee packaging may be made available to
Non-executive Directors within the fees specified. Statutory superannuation is paid in addition to the fees set by the Remuneration Tribunal.
Commencing from October 2018, the Remuneration Tribunal introduced fees for Committee Chairs and Members of the Audit and Risk Committee. These additional Committee fees are not applicable to the Chair and Deputy Chair of the Board, whose fee is all inclusive of their additional responsibilities. There was no Deputy Chair appointed to the Board in FY2018–19.
|
Board Position |
FY2018-19 Entitlement (Excl. superannuation) |
|---|---|
|
$ |
|
|
Chair |
163,020 |
|
Deputy Chair |
122,270 |
|
Non-executive Directors |
81,510 |
|
Committee Chair |
16,000 |
|
Audit & Risk Committee Member |
8,000 |
The following table sets out the Non-executive Director fees (excluding superannuation) as directed by the Remuneration Tribunal for FY2018–19.
The remuneration of Non-executive Directors is shown in the table below (accruals basis).
|
Name |
Year |
Short-Term benefits (Director’s fees)1 |
Post-employment benefit (Superannuation) Contribution) |
Total Remuneration |
|---|---|---|---|---|
|
$ |
$ |
$ |
||
|
Paul O’Sullivan2 |
2019 |
163,020 |
15,487 |
178,507 |
|
2018 |
143,924 |
13,673 |
157,597 |
|
|
Fiona Balfour2 |
2019 |
98,155 |
9,325 |
107,480 |
|
2018 |
72,344 |
6,873 |
79,217 |
|
|
Timothy Eddy2 |
2019 |
92,607 |
8,798 |
101,404 |
|
2018 |
72,344 |
6,873 |
79,217 |
|
|
Vincent Graham3 AM |
2019 |
92,607 |
8,798 |
101,404 |
|
2018 |
50,387 |
4,787 |
55,174 |
|
|
Anthea Hammon3 |
2019 |
81,510 |
7,743 |
89,253 |
|
2018 |
50,387 |
4,787 |
55,174 |
|
|
Christine Spring2 |
2019 |
92,607 |
8,798 |
101,404 |
|
2018 |
72,344 |
6,873 |
79,217 |
|
|
John Weber3 |
2019 |
87,058 |
8,271 |
95,329 |
|
2018 |
50,387 |
4,787 |
55,174 |
1 Committee Chairs and Members of the Audit & Risk Committee are included in Director’s fees.
2 Appointed as an independent Non-executive Director on 7 August 2017.
3 Appointed as an independent Non-executive Director on 14 November 2017.
Visit
https://www.transparency.gov.au/annual-reports/wsa-co-ltd/reporting-year/2018-2019-33