Speciality Metals International Limited Annual Report 2020

26 Speciality Metals International Limited Annual Report 2020 Directors’ Report continued Page | 26 DIRECTORS’ REPORT (b) Key Management Personnel The following persons were Key Management Personnel of the Group during the 2020 financial year: Position Appointment Resignation Directors O. Kleinhempel Non-executive Director Non-executive Chairman 12 August 2019 24 April 2020 - S. Layton Independent Non-executive Director 14 November 2017 - Z.P. Yeo Non-executive Director 12 August 2019 - R.H. Krause Non-executive Chairman Executive Chairman 30 June 2013 14 November 2017 24 April 2020 R.W. Nice Independent Non-executive Director 30 June 2013 12 August 2019 Executives K.B. MacNeill Interim CEO & Senior Technical Advisor 4 May 2020 - A.M. Wing Company Secretary 1 February 2019 1 September 2020 C.P. Godfrey Chief Operating Officer 4 November 2019 31 July 2020 (c) Details of Remuneration Directors are entitled to remuneration out of the funds of the Company, but the remuneration of the Non-executive Directors may not exceed in any year the amount fixed by the Company in general meeting for that purpose. The aggregate remuneration of the Non-executive Directors has been fixed at a maximum of $200,000 per annum to be apportioned among the Non- executive Directors in such a manner as they determine. Directors are also entitled to be paid reasonable travelling, accommodation and other expenses incurred in consequence of their attendance at Board Meetings and otherwise in the execution of their duties as Directors. Details of the nature and amount of each element of the remuneration of each of the Key Management Personnel of the Company and the consolidated entity during the year ended 30 June 2020 are set out in the following tables: