Remuneration Committee
Remuneration and Establishment Committee (“Remuneration Committee”)
The Board has delegated to the Remuneration Committee the overall responsibility of recommending an effective human resource strategy, including initiatives for the development and management of human capital with the objective of attracting, developing and retaining the best talents for the Group. The Remuneration Committee is also responsible for providing a formal and transparent procedure for developing a remuneration policy for directors, President & CEO and key senior management officers and ensuring that the compensation package is competitive and consistent with the Bank’s culture, objectives and strategy.
The composition of the Remuneration Committee comprises non-executive directors, the Chairman and the majority of whom are independent. The Remuneration Committee meets at least once in every quarter with additional meetings convened to attend to urgent matters that require its deliberation.
The current committee comprises of the following members:
- Dato’ Seri Ismail Shahudin (Chairman)
- Tan Sri Dr Hadenan A. Jalil
- Dato’ Dr Tan Tat Wai
- Encik Zainal Abidin Jamal
- Mr Alister Maitland
The specific responsibilities of the Committee include, amongst others, the following:
(i) To recommend to the Board a Performance Management framework/model, including the setting of appropriate performance target parameters and benchmark for the Group Balanced Scorecard at the start of each financial year;
(ii) To recommend to the Board, a learning strategy for the Group, including learning programmes for executive directors of Maybank and a Leadership Development framework for the Group;
(iii) To recommend to the Board, the organisational structure and commensurate job grades and ranges for employees in the Group; and
(iv) To recommend to the Board the remuneration package, the compensation and benefits policies, and the Terms and Conditions, including the job grade for senior management officers.
