Directors' statements

Remuneration policy

The objective of the Board’s remuneration policy is to recruit and retain high quality directors and managers by providing competitive rewards based on the achievement of targets which are aligned to the company’s strategic goals and with returns to shareholders. The committee has established and continues to maintain with independent advice a peer pay comparator group comprising a selection of FTSE 250 companies (from the transport and other sectors) of a similar size and complexity to that of the company. The committee benchmarks remuneration with the peer group, subject to the achievement of performance targets. Performance targets selected by the committee are subject to periodic review to ensure continued congruence with the group’s strategic goals.