New President & Vice-Chancellor Remuneration Statement
The University of Sheffield is committed to transparency in its approach to the remuneration of its senior leadership team, including its President & Vice-Chancellor, and already publishes senior remuneration information annually in its Financial Statements. The University has confirmed its full commitment to the new Higher Education Senior Staff Remuneration Code which sets out principles to ensure fair and appropriate senior remuneration.
As part of this commitment, the University wishes to share the details of the agreed remuneration package of its new President & Vice-Chancellor, Professor Koen Lamberts, who will join the University on 1 November 2018.
A salary of £285,000 has been agreed for Professor Lamberts by both the University’s Senior Remuneration Committee and Council.
The salary takes into account Professor Lamberts’ extensive leadership and academic experience to date. It also reflects the size, scale and complexity of the organisation which has 29,000 students, over 8,000 staff, an annual turnover of £623 million and strategic partnerships with many stakeholders, including local, national and global organisations.
The Senior Remuneration Committee and Council have also approved the following benefit package:
- Pension membership of USS (currently 18% employer’s contributions).
- Relocation of up to £8,000 offered to support relocation to Sheffield, to be paid against receipts for costs incurred in line with HMRC rules, as available to other senior appointments.
- Use of a University pool car for business use with a driver provided
- Access to other voluntary benefits available to all University employees.
The President and Vice-Chancellor will be required to reside in a house owned by the University for the purposes of undertaking University business and hosting University guests.
The Senior Remuneration Committee
The membership of the Senior Remuneration Committee is independent, consisting of lay members of Council and chaired by the Chair of Council. The Senior Remuneration Committee is responsible for determining the remuneration of the University’s Executive Board, including the President & Vice-Chancellor. In line with the principles of the HE Senior Staff Remuneration Code, the Chair is assumed by another lay member when any decision on the remuneration of the President and Vice-Chancellor is made. The members of the Senior Remuneration Committee bring a wealth and breadth of remuneration expertise from different sectors. They take into account the University’s progress, independent job evaluation using Hay methodology, external benchmarking data and other information to help determine senior levels of pay.