Tesco 2004 Annual Report Download - page 19

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TESCO PLC 17
NON-EXECUTIVE DIRECTORS The remuneration of the Non-
executive Directors is determined by the Board as a whole, on
the recommendation of the Executive Committee, after
considering external market research.
Non-executive Directors have letters of appointment, and their
appointment can be terminated by either party without notice.
Each appointment is subject to review every three years. Non-
executive Directors receive a basic fee plus an additional sum
in respect of committee membership. To reßect their additional
responsibilities, supplementary fees are also paid to Non-
executives who chair committees and to the senior Non-
executive Director. Mr D E Reid has the beneÞt of the use of
a company car.
PERFORMANCE GRAPH The graph highlights the Groups total
shareholder return performance (i.e. share price movements plus
dividends reinvested) over the last Þve Þnancial years, relative
to the FTSE 100 index of companies. This index has been
selected to provide an established and broad-based comparator
group of retail and non-retail companies of similar scale to Tesco,
against which the Groups TSR performance can be measured.
Tables 1 to 6 are audited information.
TABLE 1 Directors emoluments
Fixed emoluments Performance-related emoluments Total Total
Salary BeneÞts ProÞt-sharing Short-term Long-term 2004 2003
£000 £000 £000 £000 £000 £000 £000
Mr J A Gardiner 396 35431427
Sir Terry Leahy 955 36 3 1,091 892 2,977 2,838
Mr D E Reid (c) 691 89 3 821 1,120 2,724 2,610
Mr R S Ager (b) 463 37 3 679 452 1,634 1,425
Mr C L Allen 474741
Mr R F Chase 494928
Mr P A Clarke 531 65 3 619 439 1,657 1,431
Mr E M Davies (a) 2828
Dr H Einsmann 444436
Mr J Gildersleeve (b) 614 96 3 851 597 2,161 1,928
Mr A T Higginson 538 37 3 619 462 1,659 1,513
Mr K J Hydon (a) 11
Mr T J R Mason 538 12 3 619 509 1,681 1,561
Mrs V Morali 444436
Mr G F Pimlott 727259
Mr D T Potts 531 34 3 619 474 1,661 1,442
5,542 441 24 5,918 4,945 16,870 15,375
(a) Appointed during the year.
(b) Retired from the Tesco Group in March 2004. Mr R S Ager and Mr J Gildersleeve were awarded bonuses of £150,000 each,
which have been sacriÞced in return for pension augmentation.
(c) Mr D E Reid has sacriÞced an amount of £430,000 from his long-term bonus relating to overseas business growth in return for pension
augmentation. Mr D E Reid resigned as an Executive Director in December 2003 and was appointed Non-executive Chairman in April 2004.
The performance criteria set out on pages 14 to 16 is audited information.
Feb 04Feb 03Feb 02Feb 01Feb 00Feb 99
TOTAL SHAREHOLDER RETURN (TSR)
TSR is the notional return from a stock or index based
on share price movements and declared dividends
FTSE
Te sc
o
£100
£50
£150