Remuneration of Directors
The Directors' Remuneration Committee (DRC), is independent of the Board and the Shareholders' Council and is separately elected by Fonterra shareholders.
Under the constitution, the DRC considers and recommends for shareholder approval, the form and amount of remuneration for elected directors.
The Board is responsible for setting remuneration of appointed directors, but generally follows the remuneration levels approved for elected directors. The Board is authorised to approve special remuneration for a director who is engaged to carry out work other than as a director of Fonterra or where a director is called upon to exercise special skills for the benefit of the Company.
