EasyJet 2009 Annual Report Download - page 52

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50 easyJet plc Annual report and accounts 2009
REPORT ON DIRECTORS’ REMUNERATION CONTINUED
Total shareholder return
Given the nature of easyJet’s operations, the Committee does not consider that there is a suitable comparator group against which to measure total
shareholder return. However, for completeness, the following graphs show the Company’s performance compared with the performance of the FTSE 250
and that of a group of European Airlines1. The FTSE 250 has been chosen as it consists of companies of similar size to easyJet. The group of European
Airlines comprises companies operating in a comparable sector.
Note 1: British Airways, Lufthansa-Swiss, Ryanair, Air France-KLM and Iberia have been included in the comparative European Airlines group.
Directors’ emoluments (audited)
Details of emoluments, paid or payable by easyJet to the Directors of easyJet plc who served in the financial year ended 30 September 2009 are as follows:
Pension contributions
Salary/fee
2009
Bonus
2009
Total
2009
Total
2008 2009 2008
Executive
Andrew Harrison 590 1,043 1,633 856 53 41
Jeff Carr (resigned 25 September 2009) 356 – 356 441 27 25
Non Executive
Sir Colin Chandler (resigned 1 July 2009) 150 – 150 201 ––
Sir David Michels 114 – 114 65 ––
Sir Michael Rake (appointed 1 June 2009) 23 – 23 – ––
Dawn Airey (resigned 31 December 2008) 11 – 11 45 ––
David Bennett 55 – 55 55 ––
Sven Boinet 45 – 45 26 ––
John Browett 45 – 45 45 ––
Professor Rigas Doganis 45 – 45 45 ––
Sir Stelios Haji-Ioannou –––– ––
Keith Hamill (appointed 1 March 2009) 29 – 29 – ––
Diederik Karsten (resigned 21 February 2008) –––18 ––
Bob Rothenberg (appointed 1 August 2009) 8–8– ––
1,471 1,043 2,514 1,797 80 66
The table above excludes gains as a result of the exercise of share options. Details of share options and share awards and any movements during the year
are shown on page 52.
Pension contributions for Andrew Harrison and Jeff Carr shown above are greater than 7% of salary as they include half of the National Insurance saving
resulting from employee contributions made through easyJet’s salary exchange scheme (equivalent to 6.4% of the sum sacrificed). Andrew Harrison
exchanged £195,000 for additional pension contributions in the year (2008: £187,000) and Jeff Carr exchanged a total of £27,000 (2008: £27,000).
There was a pay freeze in place during the year under review for Executive Directors and the wider senior management population. Andrew Harrison’s
salary remained at £590,000 and Jeff Carr’s salary remained at £360,000. It is not proposed that basic salary will be increased for Executive Directors in the
2010 financial year.