84 Woodside Petroleum Ltd|Annual Report 2018
Culture and reputation
Objective 2018 outcomes
Assesses performance culture and
emphasis on values; engagement
and enablement; improved employee
climate; Woodside’s brand as a
partner of choice.
Introduced a new integrated cultural framework incorporating values, safety, risk and
compliance and piloted pulse checks to measure cultural health on a regular basis.
Workplace climate and collaboration enhanced through new Mia Yellagonga headquarters.
Positive contribution to host communities through A$17.7 million social investment, and
meeting or exceeding most annual Reconciliation Action Plan targets. Progressed Human
Rights Policy implementation plan, including supply chain management framework.
Shareholder focus
Objective 2018 outcomes
Assesses whether decisions are
made with a long-term shareholder
return focus; ecient and timely
communication to shareholders,
market analysts and fund managers;
the focus on shareholder return
throughout the organisation.
The CEO drove a disciplined approach to managing capital eciency allowing the
optimisation of growth projects while maintaining base business operating cash flows
and balancing corporate gearing.
CEO actual remuneration
2018 Vesting
P Coleman Shares
2014 deferred short-term award vested on 20 February 2018 45,334
2013 long-term award had a partial vesting of 65% on 5 March 2018 including an adjustment due to the Retail Entitlement Oer 103,051
2012 long-term award had a partial vesting of 14% on 5 March 2018 including an adjustment due to the Retail Entitlement Oer 14,097
Executive KMP KPIs and outcomes
In January 2018, Woodside conducted a review of executive KMP remuneration based on benchmarking data against a defined
peer group alongside consideration of executive performance and role accountabilities. This review confirmed that executive KMP
remuneration was below market median. This supported the Board's decision to award an on average increase of 2.8% in April 2018.
For 2018, KPIs were tailored to reflect the individual responsibilities of executives who participate in the EIS. They are chosen to
align individual performance with the achievement of Woodside’s corporate strategy whilst fostering collaboration and excellence
amongst executives.
The Board approved EIS awards to executive KMP based on the scorecard result and their individual performance assessment. As a
result, EIS awards for executive KMP ranged from 59% to 88% of maximum and the average EIS award for executive KMP was 75% of
maximum. The EIS award for executive KMP is detailed in Table 6a on page 86.
The individual KPIs for each of the executive KMP are shown in Table 5 on page 85.
Table 4 – CEO performance measures (cont.)