08:00 Thu 09 Apr 2020
Prudential PLC - Update on Executive Director Remuneration
Update on Executive Director Remuneration
While the full impact of Covid-19 is still emerging, Prudential has a highly resilient business model and remains well placed to support its customers and distribution partners, and deliver profitable growth for its shareholders.
In light of the current situation and the need for continued restraint in executive remuneration, Prudential's Executive Directors have proposed the following changes to their remuneration in 2020, which have been accepted by the Board's Remuneration Committee:
· A reduction in the salaries of Executive Directors to the level on
· A reduction in the pension benefits of incumbent Executive Directors from 25 per cent to 13 per cent of salary, with effect from
· The Group Chief Financial Officer and Chief Operating Officer's 2020 Prudential Long Term Incentive Plan award will be maintained at 250 per cent and will no longer increase to 300 per cent of salary.
The Remuneration Committee will operate these changes within the Directors' Remuneration Policy proposed at the Annual General Meeting on
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