UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
21
September 2020
Commission File Number: 001-10691
DIAGEO plc
(Translation
of registrant’s name into English)
Lakeside Drive, Park Royal, London NW10 7HQ
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form
20-F X
Form
40-F
Indicate
by check mark whether the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule
101(b)(1):
Indicate
by check mark whether the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule
101(b)(7):
List identifying information required to be furnished
by Diageo plc pursuant to Rule 13a-16 or 15d-16 of
The Securities Exchange Act 1934
21st September 2020
Diageo PLC – 2020 Directors’ Remuneration
Report
Dated
21st
September 2020
Diageo plc
LEI: 213800ZVIELEA55JMJ32
2020 Directors' Remuneration Report
Further to the publication of the Annual Report for the year ended
30 June 2020 for Diageo plc ("the Company") on 7 August 2020, it
has come to the Company's attention that there is a transposition
error in the details of the long-term incentive performance
measures on page 104 of the Annual Report on Remuneration.
This is not part of one of the auditable sections of the Annual
Report.
The section of the Annual Report on Remuneration entitled 'Looking
ahead to 2021' contains a description of the long-term incentive
awards to be granted to the Executive Committee on 3 September 2020
and the associated performance measures and weightings. As
explained in the Annual Report, the award will include a measure
based on cumulative free cash flow and a measure based on growth in
adjusted earnings per share. This is correct, but the element
of the award to which each of these measures are to be allocated
was transposed. The intended position is that the cumulative
free cash flow measure is to apply to the 'share options' element
(rather than the 'performance shares elements' as stated in the
Annual Report) and the growth in adjusted earnings per share
measure is to apply to the 'performance shares' element (rather
than the 'share options' element). The original and corrected
tables are shown below:
ORIGINAL TABLE: Long term incentive awards to be made in the year
ending 30 June 2021
|
Performance
shares
|
Share
options
|
Organic
net sales growth
|
Cumulative
free cash flow
|
ESG
measure
|
Growth
in adjusted earnings per share
|
Relative
total shareholder return
|
Weighting
(% of
total)
|
40%
|
40%
|
20%
|
50%
|
50%
|
CORRECTED TABLE: Long term incentive awards to be made in the year
ending 30 June 2021
|
Performance
shares
|
Share
options
|
Organic
net sales growth
|
Growth
in adjusted earnings per share
|
ESG
measure
|
Cumulative
free cash flow
|
Relative
total shareholder return
|
Weighting
(% of
total)
|
40%
|
40%
|
20%
|
50%
|
50%
|
We apologise for this transposition error.
Shareholders are reminded that the deadline for submitting votes by
proxy on resolutions at the 2020 Annual General Meeting is 2:30pm
on Thursday 24 September 2020.
James Edmunds
Deputy Company Secretary
21 September 2020
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
|
Diageo plc
|
|
(Registrant)
|
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|
Date:
21 September 2020
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By:___/s/
James Edmunds
|
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James Edmunds
|
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Deputy Company Secretary
|