Lendlease Annual Report 2022

96 Lendlease Annual Report 2022 Remuneration Governance and Risk Management Robust governance is a critical part of Lendlease’s approach to executive remuneration. The diagram below illustrates the roles various stakeholders play in making remuneration decisions at Lendlease: Independent Remuneration Advisor The Board and People & Culture Committee engage external consultants to provide advice or information. Their input is used to guide Board and Committee decisions During the year, advisors did not provide a remuneration recommendation as de ned in Section 9B of the Corporations Act 2001 The Board is satis ed that any advice provided by EY was made free from undue in uence from any of the KMP given the structure of the engagement Management The Global CEO recommends Fixed Remuneration and STA outcomes for his direct reports (for approval by the People & Culture Committee) The Group Chief Financial O cer and Group Chief Risk O cer present on the ‘Health of the Business’ when the Committee is considering STA outcomes Recommends potential approaches for developing and implementing the Executive Reward Strategy and structure Provides information relevant to remuneration decisions and, if appropriate liaises with advisors to provide factual information relating to company processes, practices and other business issues; and provide management’s perspectives Audit Committee Assists in setting and assessing nancial targets for remuneration purposes Assesses and advises of any audit matters which may impact remuneration outcomes The Chair of the Audit Committee is a member of the People & Culture Committee Risk Committee Advises of risk issues and/or conduct matters to assist in determining an appropriate Risk adjustment for STA outcomes The Chair of the Risk Committee is a member of the People & Culture Committee Sustainability Committee Assists in setting and assessing Safety/Sustainability related Key Performance Indicators People & Culture Committee Assists in establishing appropriate policies for people management and Reviews and recommends the goals, performance and remuneration of Undertakes a holistic assessment of annual performance when determining STA outcomes, including input from other Committees and Management Regularly considers matters outside of remuneration – including organisational culture, talent development and succession, and feedback from employees through Our People Survey Board The Board has overall responsibility for Executive and Non Executive Director remuneration at Lendlease The Board assesses the performance of and determines the remuneration outcomes for the Global CEO