Holiday Inn 2013 Annual Report Download - page 90

Notes to Single total figure of remuneration – Executive Directors
Salary: salary paid for the year; for Kirk Kinsell this shows actual salary paid converted into sterling.
Benefits: principal taxable benefits arising from the individuals’ employment in 2013 are set out in the table below:
Director
Company car
£
Healthcare
£
Financial
counselling
£
Life cover
£
Taxable
expenses4
£
Expatriate-related
benefits
£
Richard Solomons 20,22012,139 nil nil311,661 nil
Kirk Kinsell nil 5,247 3,195 2,747 13,395 60,5545
Tracy Robbins 15,46821,328 nil nil34,504 nil
Tom Singer 19,2902nil nil nil39,537 nil
1 P11D value of the company car.
2 Car allowance.
3 Life cover is provided through the IC Plan and, therefore, is not an individual taxable benefit.
4
Includes expenses that are taxable, such as travel and accommodation to attend Board meetings away from home locations.
5
Kirk Kinsell received expatriate benefits relating to his international assignment prior to taking up his Board appointment as President, The Americas, on
13June 2011. This included tax equalisation on the vesting of LTIP awards granted whilst on assignment.
2013 APP
The weighting, measures and targets relating to the APP are determined by the Committee, on an annual basis, in line with our strategic
objectives. The measures for 2013 were:
• Guest satisfaction as measured by the Guest HeartBeat score: year-on-year improvement;
• Employee Engagement survey score: year-on-yearimprovement; and
• EBIT achievement against target (corporate and regional).
A combination of global and regional targets were used. Executive Directors with only global roles were subject to global measures.
KirkKinsell was subject to partly regional measures, reflecting his regional role as President, The Americas.
In common with shareholders, Executive Directors were eligible to receive dividends or dividend equivalents on the deferred share
awards from the date of grant.
Why do we use these measures?
Guest HeartBeat score Employee Engagement survey score EBIT vs target
• Guest HeartBeat is part of the guest
satisfactionsurvey.
• It is an overall guest satisfaction score
relating to hotel visits.
• It is a robust measure of the strength of
our brands.
• Inclusion in the APP provides executive
focus on this key performance metric at
global and regional level.
• We measure employee engagement
because our brands are, effectively, a
promise kept by our people, as engaged
colleagues, to deliver a great guest
experience.
• Engaged employees are key to
ourbusiness.
• Our Employee Engagement survey is a
long-established tool in our business.
• EBIT is a key measure of business
performance for our shareholders.
• It is a function of other critical measures:
net rooms growth, RevPAR, profit margin
and fee revenues.
APP
50% IHG shares
(deferred for
three years)
10% Employee
Engagement
20% Guest
HeartBeat
70% EBIT 50% cash
Performance
measures
Payment
structure
Target:
115% of salary
per annum
Maximum:
200% of salary
per annum
Opportunities The 2013 targets were set taking
intoaccount:
• the Group’s growth ambitions;
• the objective of setting stretch
targets forsenior executives based
on continuous improvement through
maintaining or increasing
achievement levels; and
• market expectations, circumstances
and relative performance at the time.
88 IHG Annual Report and Form 20-F 2013
Directors’ Remuneration Report continued
Annual Report on Directors’ Remuneration continued