Tesco 2014 Annual Report Download - page 50

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Philip Clarke
(£million)
Laurie McIlwee
(£million)
Pension
Base salary
Benefits*
Annual bonus – cash
Annual bonus –
deferred shares awarded
PSP (value on
vesting date)
£3.4m
£3.8m
£4.6m
£1.3m
£1.6m
£3.3m
£3.6m
£2.5m
£1.4m £1.5m
13/1412/13
11/12
10/1109/10
CEO
Executive Director
5.0
4.5
4.0
3.5
3.0
2.5
2.0
1.5
1.0
0.5
0.0
5.0
4.5
4.0
3.5
3.0
2.5
2.0
1.5
1.0
0.5
0.0
13/1412/1311/1210/1109/10
The table below lays out the historical single figure data for the role of CEO as well as bonus and long-term incentive payout levels as a
percentage of maximum opportunity for the CEO.
Five year remuneration history
2009/10 2010/11 2011/1212012/13 2013/14
Sir Terry Leahy Sir Terry Leahy Philip Clarke Philip Clarke Philip Clarke
CEO single figure of remuneration 7,10 027,150 4,595 1,280 1,634
Annual bonus vesting (% of maximum award) 89% 75% 0% 0% 0%
PSP vesting (% of maximum award) 82.7% 75% 46.5% 0% 0%
Share option vesting (% of maximum award) 100% 100% 100% 0% n/a
1 The CEO elected not to take a bonus for 2011/12. Other Executive Directors received a bonus of 13.54% of maximum.
2 Includes additional shares earned under the legacy bonus scheme.
In each year the award is shown based on the final year of the performance period, i.e. the year in which it is included in the single figure.
The following charts illustrate remuneration arrangements paid to Executive Directors over the last five years:
* Benefits includes car, fuel and driver, security, taxable travel, medical insurance, membership at clubs, Shares in Success and Sharesave awards.
Philip Clarke was promoted to the role of CEO with effect from 1 March 2011 and therefore the value of his pension for 2011/12
increased to reflect his new salary in relation to the role of CEO.
Laurie McIlwee was promoted to the role of CFO with effect from 27 January 2009 and therefore the value of his pension for 2009/10
increased to reflect his new salary in relation to the role of CFO. Laurie McIlwee resigned from the role of CFO on 4 April 2014.
Other information
Governance Financial statementsStrategic report
Tesco PLC Annual Report and Financial Statements 2014 47