Ann: Capital returns policy and launch of on-market buy back, page-5

I may be incorrect, however a quick look at CEO's potential pay packet appears to show 33% or just under $1m as fixed, potentially (if achieved) 33% short term incentives (I have yet to locate the hurdles) and potentially (if achieved) 33% long term incentives. LTIs appear closely linked to Total Shareholder Return. Call me a doubter but I can see Buy backs becoming flavour of the month-- the old Charlie Munger quote "Show me the incentive and I will show you the outcome" rings true-- be nice to see EPS as the hurdle. There are some fairly ordinary companies included in the peer company 50% component of TSR review-- explorers such as CVN for 1.