v Foreword T he governance of remuneration is becoming an increasingly challenging area of a Board’s work. The Code’s requirements on remuneration disclosures and increasing public scrutiny of executive remuneration mean that Boards and Remuneration Committees (RCs) must ensure that they defend their pay decisions and outcomes to a wide range of stakeholders, not least investors, employees and the media. This RC Guide is part of a series of Corporate Governance Guides for Boards and Board Committees in Singapore. It is produced by the Singapore Institute of Directors with the support of the Accounting and Corporate Regulatory Authority (ACRA), the Monetary Authority of Singapore (MAS), and the Singapore Exchange Limited (SGX). The series comprises the following: • Resource Guide. • Board Guide. • Audit Committee Guide. • Board Risk Committee Guide. • Nominating Committee Guide. • Remuneration Committee Guide. • eGuide to the Code of Corporate Governance. Intended for Singapore-listed companies, these Guides set out best practices alongside the requirements of the Companies Act, SGX-ST Listing Manual, and Code of Corporate Governance. That said, the principles and practical guidance they provide can also apply to other organisations. This RC Guide has been developed with the support of Mercer, together with a review panel of leading practitioners and professionals in RC matters. We take this opportunity to thank all the individuals and organisations listed in the Acknowledgements for their time and invaluable contributions. Singapore Institute of Directors