Principle 9: Remunerate Fairly and Responsibly
It is the Company's objective to provide maximum stakeholder benefit from the retention of a high quality Board and executive team by remunerating Directors and key executives fairly and appropriately with reference to relevant employment market conditions. The expected outcomes of the remuneration structure are:
- retention and motivation of key executives
- attraction of quality management to the company
Participation in the Austal Group Management Share Plan provides an incentive to the Directors and executives which is aligned with increased returns to shareholders.
There is no scheme to provide retirement benefits to any director, other than statutory superannuation contributions.