Tesco 2011 Annual Report Download - page 89

Table 1 – Directors’ emoluments
Fixed emoluments Performance-related emoluments
Salary
£000
Benefits3
£000
Short-term
cash
£000
Short-term
deferred
shares
£000
Total
2010/11
£000
Total
2009/10
£000
Executive Directors
Richard Brasher 825 40 765 632 2,262 2,402
Philip Clarke 825 38 765 632 2,260 2,701
Andrew Higginson 825 65 765 632 2,287 2,724
Sir Terry Leahy 1,432 77 1,328 1,386 4,223 5,220
Tim Mason – base salary1 825 376 716 649 2,566 3,616
Tim Mason – supplement1 200 – 172 156 528 649
Tim Mason – total 1,025 376 888 805 3,094 4,265
Laurie McIlwee 752 57 765 632 2,206 1,789
Lucy Neville-Rolfe 625 83 574 474 1,756 1,809
David Potts 825 86 765 632 2,308 2,708
Non-executive Directors
Charles Allen2 35 – – – 35 95
Gareth Bullock2 52 – – – 52 –
Patrick Cescau 109 – – – 109 89
Stuart Chambers2 64 – – – 64 –
Rodney Chase2 49 – – – 49 135
Karen Cook 80 – – – 80 77
Harald Einsmann2 28 – – – 28 77
Ken Hanna 92 – – – 92 79
Ken Hydon 98 – – – 98 95
David Reid (Chairman) 629 64 – – 693 677
Jacqueline Tammenoms Bakker 76 – – – 76 65
Total 8,446 886 6,615 5,825 21,772 25,007
1 Tim Mason’s salary is made up of a base salary and a non-pensionable salary supplement (shown separately). Tim Mason’s benefits are made up of travel, medical, tax-related costs
and services and free shares awarded under the all employee Share Incentive Plan (SIP). Payments in relation to tax equalisation on equity awards granted prior to his appointment as
US CEO totalling £768,000 are not included in table 1.
2 Gareth Bullock and Stuart Chambers were appointed during the year. The figures in table 1 are from their dates of appointment. Charles Allen, Rodney Chase and Harald Einsmann
retired during the year.
3 With the exception of Tim Mason, benefits are made up of car benefits, chauffeurs, disability and health insurance, staff discount, gym/leisure club membership and free shares
awarded under the all employee SIP. Under the SIP, shares in the Company are allocated to participants in the scheme up to HMRC approved limits (currently £3,000 per annum).
The amount of profit allocated to the scheme is determined by the Board taking into account Company performance.
Table 2 – Directors’ pension details
Age at
26 February
2011
Years of
Company
service
Total accrued
pension at
26 February
20111,2
£000
Increase
in accrued
pension
during
the year
£000
(a)
Increase
in accrued
pension
(net of
inflation)4
£000
Transfer
value of
(a) at
26 February
2011 (less
Director’s
contributions)
£000
Transfer
value of
total accrued
pension at
27 February
2010
£000
Transfer
value
of total
accrued
pension at
26 February
2011
£000
Increase
in transfer
value (less
Director’s
contributions)
£000
Richard Brasher 49 24 384 25 14 202 4,842 5,482 640
Philip Clarke 50 36 415 25 13 190 5,579 6,269 690
Andrew Higginson 53 13 364 35 26 427 5,202 6,097 895
Sir Terry Leahy354 32 887 55 29 1,043 15,924 18,367 2,443
Tim Mason 53 29 450 26 13 217 6,662 7,478 816
Laurie McIlwee 48 10 238 60 54 740 2,306 3,253 947
Lucy Neville-Rolfe 58 14 277 33 25 481 4,452 5,334 882
David Potts 53 38 454 26 13 224 6,891 7,735 844
1 The accrued pension is that which would be paid annually on retirement at 60 based on service to 26 February 2011.
2 Some of the Executive Directors’ benefits are payable from an unapproved pension arrangement. This is secured by a fixed and floating charge on a cash deposit.
3 Sir Terry Leahy is entitled to retire at any age from 57 to 60 inclusive with an immediate pension of two-thirds of base salary.
4 Inflation over the year has been allowed for using the September 2010 statutory revaluation order.
Tables 1-11 are audited information
Overview Business review Governance Financial statements
TESCO PLC Annual Report and Financial Statements 2011 — 85