Unilever 2014 Annual Report Download - page 39

SIXYEAR HISTORIAL TOTAL SHAREHOLDER RETURN
(TSR) PERFORMANE
The table below ncludes
• growth n the value of a hypothetcal £100 holdng over sx
years’ FTSE 100 comparson based on 30-tradng-day average
values and
• growth n the value of a hypothetcal 100 nvestment over sx
years’ AEX comparson based on 30-tradng-day average values
The ommttee has decded to show Unlever’s performance
aganst the FTSE 100 Index, London and also the Euronext 100
ndex (AEX), Amsterdam as these are the most relevant ndces n
the UK and the Netherlands where we have our prncpal lstngs
Unlever s a consttuent of both these ndces
Unilever NVUnilever PLC FTSE 100 AEX
Value of hypothetical £/ holding
Dec 2008 Dec 2009 Dec 2010Dec 2011Dec 2012Dec 2013Dec 2014
100
120
140
160
180
200
220
EO SINLE FIURE SIXYEAR HISTORY
The table below shows the sx-year hstory of the EO sngle
fgure of total remuneraton
2009 2010 2011 2012 2013 2014
EO
Sngle fgure of total
remuneraton ( ‘000) 3,859 6,292 6,010 7,852 7,740 9,561
Annual bonus award
rates aganst maxmum
opportunty 82% 80% 68% 100% 78% 66%
SIP performance
shares vestng rates
aganst maxmum
opportunty n/a 47% 44% 55% 64% 61%
MIP performance
shares vestng rates
aganst maxmum
opportunty n/a n/a n/a n/a n/a 81%
Share Matchng Plan
vestng rates aganst
maxmum opportunty*100% 100% n/a n/a n/a n/a
* Shown n year of award
PERENTAE HANE IN REMUNERATION OF DIRETOR
UNDERTAKIN THE ROLE OF HIEF EXEUTIVE OFFIER
The table below shows the percentage change from 2013 to 2014
for base salary, bonus and benefts (excludng penson) for both
Paul Polman and all UK and Dutch management n Unlever
The subset of UK and Dutch management has been used as a
far representaton of our dual lstng status
% change from 2013 to 2014 Salary Bonus
Benefts
(not ncludng
penson)
EO(a) (b) 52% -114% 124%
UK and Dutch management (c) 34% 67% -80%
(a) alculated usng the data from the Executve Drectors sngle fgure table
on page 67
(b) The EO’s ncrease of salary of 52% as reflected n the table s due to
movements n the presentatonal currency, rather than a change n base
salary whch was £1,010,000 n both 2013 and 2014 Movements n the
presentatonal currency also had a smlar mpact on benefts and bonus
(c) Whle the table shows that the average base salary costs for all employees
ncreased by 34%, ths s drven by a proportonately larger ncrease n the
total headcount durng the year The average ncrease was approxmately
62% f the 2013 UK and Dutch management populaton reman constant
The same apples for both benefts and bonus numbers where, on a
constant bass, the average beneft provson ncreased by approxmately
228% rather than decreased by 8% and the bonuses ncreased by 218%
rather than 67%
RELATIVE IMPORTANE OF SPEND ON PAY
The chart below shows the relatve spend on pay compared
wth dvdends pad to Unlever shareholders and core earnngs
ore earnngs represent the net proft attrbutable to Unlever
shareholders, adusted for non-core tems Over tme, both core
earnngs and core earnngs growth provde a good reference pont
to compare spend on pay
RELATIVE IMPORTANCE OF SPEND ON PAY
Core earnings(1)Dividends paid to
Unilever shareholders
Total staff costs
0.6%
7.2%
-2.3%
2013 2014
€0m
€1,000m
€2,000m
€3,000m
€4,000m
€5,000m
€6,000m
€7,000m
(1) In calculating core earnings, net profit attributable to shareholders’
equity is adjusted to eliminate the post-tax impact of non-core items.
Refer to note 7, and the table entitled calculation of core earnings on
page 102 for reconciliation of core earnings to net profit attributable
to shareholders' equity.
THE OMPENSATION OMMITTEE
Durng 2014, the ommttee comprsed four Non-Executve
Drectors Paul Walsh (ommttee harman), Mchael Treschow,
Ann Fudge and Kees Storm
The ommttee revewed ts terms of reference durng the year
The ommttee’s revsed terms of reference are contaned wthn
‘The overnance of Unlever’, and are also set out on our webste
wwwunlevercom/corporategovernance
76 Unilever Annual Report and Accounts 2014Governance
DIRETORS’ REMUNERATION
REPORT ONTINUED