Selection of Board and Committee members in Radian Group is by open competition, overseen by the People and Culture Committee. Members are appointed for a fixed period of office, usually between one and three years, and these terms are set to provide continuity (to avoid several board members leaving the board all at once) and to maintain the right mix of skills and knowledge needed by each Board or Committee, as the membership changes over time.
Board members in Radian Group are offered an annual fee in recognition of the experience, knowledge, and skills they bring and the time commitment involved. A member may serve on more than one Board and Committee within the Group, but will only receive one fee.
The Chairperson, Vice Chair, Committee Chairs and the Senior Independent Director each receive a supplementary fee, in addition to the basic Board member fee, in recognition of the additional responsibility and time commitment involved in their roles.
Radian reviews its payments to Board members on a regular basis.
Radian Group Chair – £26,000 (including board member fee)
Combined Board member – £11,000
Committee chair – £13,000 (including board member fee)
Vice-chair – £18,000 (including board member fee)
Senior Independent Director – £13,500 (including board member fee)