News and Updates: 29/06/2010 - See also Recent GNA Remuneration Updates
Geoff Nunn & Associates was established in Melbourne, Australia in 1993. Since then, the Company has established a reputation for professionalism and quality service. Remuneration and organisation projects have been completed in over 950 organisations across Australia.
We believe in the provision of the highest standard of service at a competitive price. Our operating philosophies are as follows:
Philosophy 1 We provide the highest standard of professional service.
Philosophy 2 We deliver on time.
Philosophy 3 We offer substantial depth of professional expertise. Our consultants and associates are all professionally qualified and specialists in their field.
Philosophy 4 Independence increases the options available for addressing organisational issues.
Philosophy 5 Each organisation's operating environment is different. This suggests the need to develop specific approaches rather than rely on generic solutions.
Philosophy 6 All stakeholders should share in the risks and rewards associated with organisational performance.
Our services are used by some of Australia's leading organisations. See Client List and our Consultant Profiles.
In April Geoff Nunn & Associates completed the 2010 survey of Market Remuneration in the Power, Water and Utilities Sectors in Australia. Coverage extended to 200 positions from the Board to operative level employees. Data was gathered from 61 organisations. For further information see the following link: Survey Flyer 2010.pdf and also Survey Positions 2010. See also: Market Remuneration in the Power, Water and Utilities Sector 2010.
On the 19th December 2009 the Productivity Commission released its final report into Director and Executive Remuneration in Australia. In total 15 recommendations were made primarily in the area of corporate governance. Specifically they focus on:
The mix of board skills required to effectively manage executive remuneration.
A requirement that all members of the remuneration committee be non-executive directors (to remove nay potential conflicts of interest).
Improving the quality of remuneration reports by inclusion of a summary of executive remuneration policy and listing the total shareholding of each executive and director.
Requiring external remuneration advisors (engaged to provide executive remuneration advice) to report directly to the Board and the nature of their work be disclosed in the Remuneration Report.
Where the Remuneration Report receives a "no" vote of 25% or more the Board be required to report back to shareholders in the subsequent year on steps taken to address concerns. Should the succeeding remuneration report also receive a "no" vote (percentage unspecified) then elected members of the Board should offer themselves for re-election (subject to 50% support for such an election at an EGM).
The recommendations do not seek to place any limits on executive remuneration. Rather they focus on strengthening an already sound executive remuneration governance framework in Australia. To view the full Productivity Commission report see: http://www.pc.gov.au/projects/inquiry/executive-remuneration/report. For our commentary on the September 2009 draft report see: Productivity Commission Response Oct.2009.pdf.
