From Integrated Annual Report for the year ended 31
December 2024
This report sets out our remuneration policy and
remuneration implementation report for all group
employees. The report reflects how the remuneration
policy and practices were implemented in the reporting
period to align with shareholder value creation, thereby
enabling shareholders to make informed decisions when
voting on remuneration related resolutions. The report
is presented in three parts.
The report details the focus areas for the 2024 financial
period and enhancements to our remuneration policy. It
further details the remuneration outcomes for the period
and planned focus areas for the 2025 financial period.
The delivery of Bell Equipment's strategy is dependent on
the values, talent and skills of all employees across the
group and the committee has been mandated to ensure that
the group's remuneration policy remains fair, transparent
and relevant in order to drive a growing and sustainable
business. This requires that there is a meaningful
consideration of the group's external and internal
operating environments together with the competitive
landscape in respect of levels of remuneration required to
ensure that the right talent is attracted and retained at
appropriate levels and/or positions.
The group's employee value proposition supports this
objective through a holistic approach to reward by
promoting fair and responsible remuneration practices and
enhanced employee well being through our employee
wellness, employee development, and organisational
diversity and inclusion initiatives.
The group continues to implement policies and undertake
training in order to remain current with developing health
and safety issues and ensuring safety standards are
maintained. A number of in person and online courses are
provided to employees which are aligned to its strategic
and operational imperatives.
We remain focused on rewarding executives and employees in
a responsible, fair and sustainable manner to ensure the
retention of key executives and employees to achieve our
objectives, which include implementing our succession
plans and our ongoing focus on transformation. We continue
to monitor both the internal and external landscape,
taking cognisance of all stakeholders, to ensure our
remuneration policy remains relevant and fulfils its
purpose in the short, medium and long term.
Committee governance
The committee has conducted its affairs in compliance with
its terms of reference, which are reviewed annually, and has
discharged its responsibilities in accordance therewith. The
board remains ultimately responsible for remuneration policy
and will refer matters to shareholders for approval when
required.
The board accepted all the recommendations made by
the committee during the year and the committee's terms
of reference continue to be subject to the provisions of
the Companies Act, the MOI and any other applicable
laws or regulatory provisions. In this regard, the committee
has reviewed and implemented the King IV™ principles in
the policy design and implementation and with specific
reference to Principle 14 addressing fair and transparent
remuneration. It continues to consider and interpret the
recommended practices in the context of King IV™ in a way
that is appropriate for the group and the sector in which it
operates.
