Air New Zealand 2011 Annual Report Download - page 68

Download and view the complete annual report

Please find page 68 of the 2011 Air New Zealand annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 80

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80

The directors’ remuneration is paid in the form of directors’ fees. Additional fees are paid to the Chairman and Deputy Chairman and
in respect of work carried out by individual directors on various Board Committees to reflect the additional responsibilities of these
positions. The total of fees to be paid to directors is subject to shareholder approval. Air New Zealand meets directors’ reasonable travel
and other costs associated with Air New Zealand business.
Directors received the following fees and remuneration from Air New Zealand Limited in the year to 30 June 20111:
NAME
DIRECTORS’
FEES
COMMITTEE
FEES
TOTAL
REMUNERATION
VALUE OF TRAVEL
ENTITLEMENT
3
John Palmer (Chairman) 246,037 - 246,037 13,577
Roger France (Deputy Chairman) 94,216 45,799 140,015 52,979
Paul Bingham 81,411 16,656 98,067 20,579
Tony Carter 48,180 7,397 55,577 26,585
Jan Dawson 21,575 4,932 26,507 743
Jim Fox 92,384 29,552 121,936 36,755
Jane Freeman2 81,411 18,955 100,366 65,240
Warren Larsen 81,288 32,564 113,852 8,199
John McDonald459,836 20,568 80,404 3,935
Total 806,338 176,423 982,761 228,592
1. No employee of the Group received or retains any remuneration or other benefits as a director of any subsidiary company.
2. GST exclusive.
3. Includes value of travel benefits for related parties and benefits accrued in prior years availed in current year.
4. Retired during the year.
DIRECTORS’ INTERESTS IN
AIR NEW ZEALAND SECURITIES
The relevant interests of directors in Air New Zealand’s securities at the date of this Annual Report are summarised in the table below:
NAME BENEFICIAL
INTEREST AT
30 JUNE 2011
SHARES
SOLD
SHARES
PURCHASED
DATE OF
TRANSACTION
COST NON-
BENEFICIAL
INTEREST
John Palmer 177,439 5,0991
4,5491
21 Sep 2010
22 Mar 2011
$6,424
$4,964
Roger France227,0612
Roger France3933
Paul Bingham 5,000
Tony Carter 48,2195
Jim Fox 36,500
Jane Freeman 4,6664
Warren Larsen 14,844 4261
3801
21 Sep 2010
22 Mar 2011
$537
$415
1. Pursuant to the terms of the Dividend Reinvestment Plan.
2. All shares are owned by the France Family Trusts of which Mr France is a discretionary beneficiary.
3. Mr France is a trustee of the Staff Share Purchase Scheme.
4. The shares are owned by the C and J Family Trust of which Ms Freeman is a trustee and beneficiary.
5. In custody by First NZ Capital for Loughborough Investments Limited.
DIRECTORS’ REMUNERATION
AIR NEW ZEALAND ANNUAL FINANCIAL RESULTS 2011