Vodafone 2006 Annual Report Download - page 67

Vodafone Group Plc Annual Report 2006 65
Audited Information
Remuneration for the year ended 31 March 2006
The remuneration of the directors serving during the year ended 31 March 2006 was as follows:
Salary/fees Incentive schemes Benefits Total
2006 2005 2006(1) 2005 2006(2) 2005 2006 2005
£’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000
Chairman
Lord MacLaurin 520 485 ––57 32 577 517
Deputy Chairman
Paul Hazen(3) 173 130 ––––173 130
Chief Executive
Arun Sarin 1,254 1,175 1,424 1,148 54 183 2,732 2,506
Executive directors
Peter Bamford 804 771 908 663 48 37 1,760 1,471
Thomas Geitner 734 679 851 665 148 37 1,733 1,381
Andy Halford 342 –396 –16 –754 –
Sir Julian Horn-Smith 1,022 970 1,169 966 48 34 2,239 1,970
Ken Hydon 253 779 264 776 91 30 608 1,585
Non-executive directors
Sir John Bond 95 21 ––––95 21
Dr Michael Boskin(3) 144 85 ––––144 85
Lord Broers 95 85 ––––95 85
John Buchanan 95 85 ––––95 85
Penny Hughes 100 95 ––––100 95
Anne Lauvergeon 40 –––––40 –
Sir David Scholey 32 85 ––––32 85
Professor Jürgen Schrempp 95 85 ––––95 85
Luc Vandevelde 105 85 ––––105 85
Philip Yea 55 –––––55 –
Former directors(4) –191 ––1,283 229 1,283 420
5,958 5,806 5,012 4,218 1,745 582 12,715 10,606
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 2006. These awards are in relation to the performance achievements against targets in
adjusted operating profit, total service revenue, free cash flow and customer delight for the 2006 financial year.
(2) Benefits principally comprise cars and private health and disability insurance. Thomas Geitner relocated from Germany to the UK during the 2006 financial year. The benefits figure disclosed includes relocation expenses and a monthly allowance to
reflect the higher cost of living in the UK.
(3) Fees include allowances paid in respect of a non-executive director based outside of Europe to reflect the additional time commitment involved when required to travel to attend Board and Committee meetings.
(4) Under the terms of an agreement, Sam Ginn, a former director of the Company, provides consultancy services to the Group and was entitled to certain benefits. The estimated value of the benefits received by him in the year to 31 March 2006 was
£29,852. During the year, the agreement was terminated by mutual agreement. Mr Ginn received a payment of $2.23m (£1.25m) as compensation for benefits for the outstanding term.
The aggregate compensation paid by the Company to its collective senior management(1) for services for the year ended 31 March 2006, is set out below. The aggregate number of
senior management as at 31 March 2006 was ten, the same number as at 31 March 2005.
2006 2005
£’000 £’000
Salaries and fees 4,555 2,972
Incentive schemes(2) 5,155 2,875
Benefits 3,125 1,066
12,835 6,913
Notes:
(1) Aggregate compensation for senior management is in respect of those individuals who were members of the Executive Committee during the year ended 31 March 2006, other than executive directors and reflects compensation paid from date of
appointment to the Executive Committee, to 31 March 2006 or date of leaving, where applicable.
(2) Comprises the incentive scheme information for senior management on an equivalent basis to that disclosed for directors in the table at the top of this page. Details of share incentives awarded to directors and senior management are included in
footnotes to “Short term incentives” and “Long term incentives” on pages 66 and 67.
Governance