Tesco 2007 Annual Report Download - page 35

Download and view the complete annual report

Please find page 35 of the 2007 Tesco 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 112

  • 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
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112

Tables 1 to 8 are audited information.
Table 1 Directors’ emoluments
Fixed emoluments Performance-related emoluments
Share Short-term
Incentive Deferred Total Total
Salary Allowances Benefits (b) Plan Short-term Shares Long-term (c) 2006/07 2005/06
£000 £000 £000 £000 £000 £000 £000 £000 £000
Executive Directors
Sir Terry Leahy 1,202 – 99 3 1,240 1,240 834 4,618 3,979
Mr R Brasher 622 – 59 3 660 660 – 2,004 1,622
Mr P A Clarke 686 – 92 3 708 708 434 2,631 2,219
Mr A T Higginson 686 – 88 3 708 708 468 2,661 2,300
Mr T J R Mason (a) 686 542 354 3 1,005 708 467 3,765 2,256
Miss L Neville-Rolfe (d) 90 – 15 – 67 67 – 239 –
Mr D T Potts 686 – 33 3 708 708 436 2,574 2,219
Non-Executive Directors
Mr C L Allen 69 – – – – – – 69 58
Mr R F Chase 109 – – – – – – 109 100
Mrs K Cook 62 – – – – – – 62 55
Mr E M Davies 70 – – – – – – 70 60
Dr H Einsmann 62 – – – – – – 62 55
Mr K J Hydon 69 – – – – – – 69 58
Ms C McCall 62 – – – – – – 62 53
Mr D E Reid (Chairman) 536 – 76 – – – – 612 586
Total 5,697 542 816 18 5,096 4,799 2,639 19,607 15,620
(a) Mr T J R Mason relocated to the US during the year. Benefits and allowances were paid to Mr T J R Mason in line with the Tesco approach to expatriate transfers including
one-off payments for relocation, and travel and localisation costs including schooling. For future years this will be reduced to a non-pensionable salary supplement and a
more focussed package of benefits which recognises ongoing expatriate costs including travel, medical and tax-related costs and services. Mr T J R Mason’s short-term cash
bonus includes cash compensation payments in respect of accumulated share rights from existing plans paid in cash as a result of his move to the US.
(b) With the exception of Mr T J R Mason, benefits are made up of car benefits, chauffeurs, disability and health insurance, staff discount and gym/leisure club membership.
(c) The long-term bonus figures shown in table 1 relate to the additional 12.5% enhancements allocated in May 2006 on short-term and long-term awards under the old
bonus scheme. The long-term bonuses awarded on 20 July 2006 under the Performance Share Plan were awarded in the form of nil cost options with the exception of
Mr T J R Mason who received an unfunded promise to deliver shares. Details of this award are shown in table 6.
(d) Miss L Neville-Rolfe was appointed on 14 December 2006. The figures in table 1 are calculated from the date of her appointment.
33
THE BOARD AND THEIR
RESPONSIBILITIES