Methven links hikes in directors' fees to meeting profit growth targets

Thu, 19 Jul 2012

By Hannah Lynch July 19 (BusinessDesk) - Methven, the tapware and bathroom fittings manufacturer, says it will only hike directors’ fees if the company increases its net profit by more than 20 percent. “If we don’t achieve the growth target, the directors’ fees will remain unchanged," chairman Phil Lough said in an address to shareholders at its annual general meeting in Auckland. "This approach provides transparency and aligns directors’ remuneration with returns to shareholders." "In addition, we are also developing an executive incentiv...

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