Why is remuneration important?
Commonly the CEO and/or Board is concerned about whether current remuneration for the organisation’s senior executives (usually including the CEO), is market competitive.
Often executives haven’t received a remuneration review for at least a year or so, sometimes much longer. Sometimes some of the roles may have changed significantly since the appointment of the current incumbent and the remuneration may not have been adjusted to accommodate any such changes. Organisations have usually grown over time and this also gives cause for concerns that remuneration for senior roles is competitive with similar roles in similar sized organisations. Of course there can be many other reasons for looking at remuneration, these are just some examples.
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