Vodafone 2000 Annual Report Download - page 24

Vodafone AirTouch Plc Annual Report & Accounts for the year ended 31 March 2000
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Remuneration for the year to 31 March 2000
Salary/fees Bonus Incentive schemes(6) Benefits Total
2000 1999 2000 1999 2000 1999 2000 1999 2000 1999
£000 £000 £000 £000 £000 £000 £000 £000 £000 £000
Chairman
Sam Ginn(1) 176 –––––25 –201 –
Deputy Chairman
Ian MacLaurin 204 166 ––––12 9216 175
Chief Executive
Chris Gent 837 636 325 –162 162 34 26 1,358 824
Executive directors
Peter Bamford 451 329 ––83 83 29 25 563 437
Julian Horn-Smith 458 356 150 –90 90 24 18 722 464
Ken Hydon 454 339 195 –86 86 27 26 762 451
Arun Sarin(2) 391 –––463 –17 –871 –
Mohan Gyani(2) (3) 143 –25 –1,584 –6–1,758 –
Non-executive directors
Michael Boskin(2) 39 –––––––39 –
Professor Sir Alec Broers(4) 35 50 ––––––35 50
Don Fisher(2) 39 –––––––39 –
John Gildersleeve(5) 13 25 ––––––13 25
Paul Hazen(2) 39 –––––––39 –
Penny Hughes 52 29 ––––––52 29
Sir David Scholey 52 50 ––––––52 50
Charles Schwab(2) 39 –––––––39 –
Former directors(7) –464 –––93 –33 –590
–––––– –––––– –––––– –––––– –––––– –––––– –––––– –––––– –––––– ––––––
3,422 2,444 695 –2,468 514 174 137 6,759 3,095
–––––– –––––– –––––– –––––– –––––– –––––– –––––– –––––– –––––– ––––––
Notes
1. Sam Ginn joined the Board and was appointed Chairman on 30 June 1999.
2. Joined the Board on 30 June 1999. Salary and benefits for Arun Sarin and Mohan Gyani have been translated at the average exchange rate for the year of $1.61 : £1.
3. Salary and benefits for Mohan Gyani are for the period to 30 September 1999 when he resigned from the Board.
4. Information for Professor Sir Alec Broers excludes the period from 1 July 1999 to 8 November 1999 during which he was not a director of the Company.
5. Information for John Gildersleeve is stated for the period to 30 June 1999, when he retired from the Board.
6. These figures relate to the market value of the original award of shares expected to be made under the Vodafone AirTouch Short Term Incentive Plan for the year ended 31 March 2000, except in the case of Arun Sarin
and Mohan Gyani. The amount for Arun Sarin relates to the AirTouch Communications, Inc. Short Term Incentive Plan and the amount for Mohan Gyani was a special payment in respect of his pre-merger contract.
7. Under the terms of the Life President arrangements of Sir Ernest Harrison, a former director, the estimated value of benefits received by him in the year ended 31 March 2000 was £20,000.
Pension benefits earned by the directors in the year to 31 March 2000
Increase in Transfer value Accumulated total
accrued pension of increase in accrued pension
during the year accrued pension at year end
£000 £000 £000
Chris Gent 77 1,087 314
Peter Bamford 3 30 8
Julian Horn-Smith 37 502 175
Ken Hydon 48 742 221
Arun Sarin 14 35 84
Mohan Gyani 5 23 73
Contributions paid to a funded unapproved retirement benefit scheme for the benefit of Peter Bamford amounted to £61,000 in the year.
Notes
1. The pension benefits earned by the directors are those which would be paid annually on retirement, on service to the end of the year, at the normal retirement age. Salaries have been averaged over 3 years in
accordance with Inland Revenue regulations. The increase in accrued pension during the year excludes any increase for inflation. The transfer value has been calculated on the basis of actuarial advice in
accordance with the Faculty and Institute of Actuaries’ Guidance Note GN11. No director elected to pay Additional Voluntary Contributions.
2. In respect of Arun Sarin and Mohan Gyani the amounts have been translated at the average exchange rate for the year of $1.61 : £1.
Remuneration Report of the Board continued