Tesco 2012 Annual Report Download - page 84

Tables 1-10 are audited information
Table 1 Directors’ emoluments
Fixed emoluments Performance related emoluments
Salary
£000
Benefits2
£000
Short-term
cash
£000
Short-term
deferred
shares
£000
Total
2011/12
£000
Total
2010/11
£000
Executive Directors
Richard Brasher 845 63 115 115 1,138 2,262
Philip Clarke 1,093 62 – – 1,155 2,260
Andrew Higginson 845 74 115 115 1,149 2,287
Tim Mason 845 559 115 115 1,634 3,094
Laurie McIlwee 845 62 115 115 1,137 2,206
Lucy Neville-Rolfe 640 81 87 87 895 1,756
David Potts1 584 32 86 86 788 2,308
Non-executive Directors
Sir Richard Broadbent1 266 15 – – 281 –
Gareth Bullock 82 – – – 82 52
Patrick Cescau 120 – – – 120 109
Stuart Chambers 100 – – – 100 64
Karen Cook 82 – – – 82 80
Ken Hanna 94 – – – 94 92
Ken Hydon 100 – – – 100 98
Sir David Reid1 501 52 – – 553 693
Jacqueline Tammenoms Bakker 82 – – – 82 76
Total 7,124 1,000 633 633 9,390 17,437
Appointments and retirements
1 Sir Richard Broadbent was appointed as a Non-executive Director on 2 July 2011 and became Chairman on 30 November 2011. The figures in this table are from 2 July 2011.
Sir David Reid retired on 30 November 2011. The figures in this table include all remuneration paid or earned in the period up to 30 November. Sir Terry Leahy retired on 2 March 2011
after 14 years as CEO. He was paid £80,531 in the 2011/12 year including accrued holiday pay. He did not receive any payments or benefits outside of his normal contractual arrangements.
David Potts stepped down from the Board on 7 December 2011 but will remain employed by the Company until 30 June 2012. The figures in this table include all remuneration paid
orearned in the period up to 7 December 2011. In the period between 7 December 2011 and 25 February 2012 he was paid £261,000 and received benefits with a value of £9,000.
DavidPotts also received a bonus of £58,000 in respect of the period between December 2011 and February 2012 in line with other Directors. He did not receive any payments outside
ofhis normal contractual arrangements.
Benefits
2 Benefits are made up of car benefits, chauffeurs, disability and health insurance, staff discount, membership at gyms and leisure clubs and Free Shares awarded under the all employee
Share Incentive Plan (‘SIP’). Under the SIP, shares in the Company are allocated up to HMRC approved limits (currently £3,000 p.a.) and the amount allocated is determined by the Board.
The majority ofUK based employees are eligible to participate in the SIP.
Tim Mason’s benefits comprise the benefits above and a net expatriate allowance of £282,000 for the year, the gross value of which is £555,000.
Table 2 Directors’ pension details
Age at
25 February
2012
Years of
Company
service
Total accrued
pension at
25 February
2012
£000
Increase in
accrued
pension
during the
year
£000
Increase in
accrued
pension
(net of
inflation) (a)
£000
Transfer
value
of (a) at
25 February
2012 (less
Director’s
contributions)
£000
Transfer
value
of total
accrued
pension at
26 February
2011
(old basis)
£000
Transfer
value
of total
accrued
pension at
26 February
2011
(new basis)
£000
Transfer
value
of total
accrued
pension at
25 February
2012
£000
Increase
in transfer
value (less
Director’s
contributions)
£000
Richard Brasher 50 25 410 26 7 108 5,482 5,122 6,551 1,429
Philip Clarke 51 37 573 158 137 2,332 6,269 5,898 9,727 3,829
Andrew Higginson 54 14 401 37 19 357 6,097 5,852 7,628 1,776
Tim Mason 54 30 477 27 4 83 7,478 7,180 9,005 1,825
Laurie McIlwee 49 11 293 55 43 655 3,253 3,018 4,464 1,446
Lucy Neville-Rolfe 59 15 305 28 14 313 5,334 5,297 6,811 1,514
David Potts 54 39 482 28 4 85 7,735 7,426 9,302 1,876
Pension arrangements
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Retired Directors
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based on market conditions at 25 February 2012.
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Remuneration report
80 Tesco PLC Annual Report and Financial Statements 2012