Who decides on the fees and benefits for non-executive directors?

The determination of fees and benefits for non-executive directors is typically the responsibility of the Remuneration Committee. This committee is specifically tasked with overseeing the remuneration policies and practices within an organization, ensuring that the compensation paid to non-executive directors is fair, aligned with market trends, and designed to attract and retain qualified individuals.

The Remuneration Committee operates independently from the management team, allowing it to set compensation packages without conflicts of interest. This independence is crucial for maintaining corporate governance standards and ensuring that the payment structures incentivize the directors to act in the best interests of the company and its shareholders.

In contrast, the Audit Committee primarily focuses on overseeing financial reporting and compliance matters, while the management team typically handles day-to-day operations rather than compensation for directors. The General Assembly of Shareholders may have a say in overall governance matters but typically delegates the specifics of remuneration to the Remuneration Committee to ensure that decisions are made by those with the appropriate expertise.