![]() These actions, which will begin to take effect May 1, were developed in collaboration with the Aon Operating Committee. ![]() We are working with local leaders and planning for the remaining 70% of our colleagues to take a reduction of approximately 20% of salary, which will be implemented in accordance with local practices. This means that approximately 30% of our colleagues will see no reduction. We have worked with local leaders around the world to determine the most equitable way to apply a temporary salary reduction to our broader colleague base and have developed a tailored approach based on a set of criteria, including the cost-of-living.īased on that analysis, we have set a floor in each country. Our Named Executive Officers (NEOs), including me, Christa Davies, Eric Andersen, John Bruno and Tony Goland, as well as our Board of Directors, will reduce salaries by 50 percent. That’s why we are also asking colleagues across the firm to support us during this time with temporary compensation reductions. Paying a regular dividend is consistent with maintaining an investment grade rating and fundamental to accessing the capital markets.Īs we assess the economic risks on the horizon, we do not believe that these actions alone are enough to provide the operational flexibility we may require. It’s important to note that we intend to preserve our dividend. We have also paused our stock buyback plan and set aside those funds. They are mobilizing a monumental firm-wide effort to reduce all discretionary expense not related to client service. We have already substantially curtailed spending on contractors and third-party vendors and are now asking our Aon Business Services team to take additional steps. These disclosures include proposed compensation for directors and the top five executives, potential conflicts of interest, potential new board members, and any other issues that the shareholders will vote on during the meeting.In an open letter to Aon employees (27 th April 2020) Greg Case, Aon CEO requested that staff support the firms decision to implement “temporary compensation reductions”īelow is an excerpt from his open letter:Ĭonsistent with our principles, our first actions have been focused on opportunities that do not have a direct, personal impact on individual colleagues. To benchmark total compensation for executives, we recommend subscribing to ERI’s Assessor Platform. ![]() ERI’s database has data from proxy statements going back to the year 2000 to help compensation professionals price executive compensation packages. ![]() ERI gathers data from these proxy statements, as well as from salary surveys, and displays the executive compensation data for the latest year on executive data pages, like this one. The Summary Compensation table displayed in proxy statements includes data for Salary, Bonus, Stock Awards, Option Awards, Non-equity Incentive Plan Compensation, Pension and Nonqualified Deferred Compensation (NQDC) Earnings, All Other Compensation, and Total Compensation for the top five named executive officers (NEOs) in an organization. ![]() Disclosures are a great way to find executive compensation for publicly traded companies. ![]()
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