Year ended 31st March 2021
In determining Johnson Matthey's remuneration structure, the Remuneration Committee (the committee) appoints and receives advice from independent remuneration consultants on the pay and incentive arrangements prevailing in comparably sized industrial companies in each country in which Johnson Matthey has operations. Korn Ferry are now our sole advisor in relation to the advice to the Remuneration Committee and were appointed by the Remuneration Committee based on a review of leading advisors in the market. Korn Ferry Group are members of the Remuneration Consultants Group (RCG) and signatories to the RCG's code of conduct. The committee is satisfied that the advice provided by Korn Ferry was independent and objective and that the provision of additional services did not compromise that independence. The committee is also satisfied that the team who provided that advice do not have any connection to Johnson Matthey that may impair their independence and objectivity.