Vodafone 2003 Annual Report Download - page 63

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Vodafone Group Plc Annual Report & Accounts and Form 20-F 2003 61
Audited information
Remuneration for the year to 31 March 2003
The remuneration of the directors for the year to 31 March 2003 was as follows:
Salary/fees Incentive schemes Benefits Total
2003 2002 2003(1) 2002 2003(2) 2002 2003 2002
£000 £000 £000 £000 £000 £000 £000 £000
Chairman
Lord MacLaurin 432 `425 ––31 55 463 480
Deputy Chairman
Paul Hazen(3) 105 98 ––––105 98
Chief Executive
Sir Christopher Gent 1,270 1,192 1,586 1,184 40 40 2,896 2,416
Executive directors
Peter Bamford 691 649 843 644 31 32 1,565 1,325
Vittorio Colao(4) 469 –695 –9–1,173 –
Thomas Geitner(4) 556 500 694 499 23 22 1,273 1,021
Julian Horn-Smith 846 795 1,057 789 37 23 1,940 1,607
Ken Hydon 691 649 863 644 28 34 1,582 1,327
Non-executive directors
Dr Michael Boskin 65 65 ––––65 65
Professor Sir Alec Broers 65 65 ––––65 65
Penny Hughes 72 65 ––––72 65
Arun Sarin(5) 65 65 –––865 73
Sir David Scholey 65 65 ––––65 65
Jürgen Schrempp 65 65 ––––65 65
Former directors(6) –79 ––510 535 510 614
5,457 4,777 5,738 3,760 709 749 11,904 9,286
Notes:
(1) These figures are the cash equivalent value of the base share awards under the Vodafone Group Short Term Incentive Plan applicable to the year ended 31 March 2003.
These awards are in relation to the performance achievements above targets in EBITDA, before exceptional items, ARPU and free cash flow for the 2003 financial year.
(2) Benefits principally comprise cars and private health insurance.
(3) In January 2003, Paul Hazen received a deferred compensation payment of $88,851, which related to fees earned prior to the dissolution of the AirTouch board in 1999.
(4) Salary and benefits for Vittorio Colao and Thomas Geitner have been translated at the average exchange rate for the year of 11.5570:£1.
(5) Benefits for Arun Sarin have been translated at the average exchange rate for the year of $1.5446:£1.
(6) Under the terms of an agreement, Sam Ginn, a former director of the Company, provides consultancy services to the Group and is entitled to certain benefits. The
estimated value of benefits received by him to 31 March 2003 was £221,000, translated at the average exchange rate for the year of $1.5446:£1. Payments
totalling £289,000 were made to a former director in the year pending recovery of the sum under the terms of an insured long term disability plan; a settlement
in respect of sums claimed has been reached and no further payments will be made.