(Extracted from Annual Report 2025)
Full details of the remuneration of the Directors are provided in note 9 to the financial statements.
The Remuneration Committee comprises three Non-Executive Directors, Spencer Fung, Thomas Choi and Adam Fenwick. Two of the Committee members are Independent Non-Executive Directors, one of whom, Spencer Fung, is Chairman. All the members served for the whole of 2025.
The terms of reference of the Remuneration Committee have been reviewed with reference to the CG Code and are posted on the Company’s website.
The Remuneration Committee reviews and approves the remuneration proposals with respect to the Executive Directors of the Company, with reference to the Company’s Remuneration Policy and the Board’s corporate goals and objectives.
The Remuneration Committee exercises the powers of the Board to determine the remuneration packages of individual Executive Directors (including salaries, bonuses, benefits in kind and the terms on which they participate in any provident fund or other retirement benefit scheme), taking into consideration salaries paid by peer group companies, time commitment and responsibilities and employment conditions elsewhere in the Group.
In order to be able to attract and retain employees with the appropriate skills, experience and of suitable calibre, the Swire group provides a competitive remuneration package designed to be commensurate, overall, with those of its peer group. This typically comprises salary, housing, retirement benefits, allowances, medical benefits and a discretionary bonus.
The Remuneration Committee reviewed the structure and levels of remuneration paid to Executive Directors at its meeting in October 2025. At this meeting the Committee considered a report prepared for it by Mercer Limited, an independent firm of consultants, which confirmed that the remuneration of the Company’s Executive Directors was competitive with that paid to equivalent positions in peer group companies. The Committee also reviewed the annual fees payable to the Company’s Non-Executive Directors (who are not employees or directors of the Swire group) and endorsed a proposal to increase the fees for consideration and approval by the Board.
No Director takes part in the determination of his or her own remuneration.
The following fee levels have been approved by the Board:
Details of emoluments paid to each Director in 2025 are set out in note 9 to the financial statements.
