Vodafone 2007 Annual Report Download - page 85

Vodafone Group Plc Annual Report 2007 83
Audited Information
Remuneration for the year ended 31 March 2007
The remuneration of the directors serving during the year ended 31 March 2007 was as follows:
Salary/fees Incentive schemes(1) Benefits Other(2) Total
2007 2006 2007 2006 2007 2006 2007 2006 2007 2006
£’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000
Chairman
Lord MacLaurin 390 520 ––37 57 ––427 577
Sir John Bond 363 95 ––11 –––374 95
Deputy Chairman
Paul Hazen 59 173 ––157 –––216 173
John Buchanan 119 95 ––15 –––134 95
Chief Executive
Arun Sarin 1,272 1,254 1,928 1,424 49 54 ––3,249 2,732
Executive directors
Vittorio Colao 383 –500 –58 –115 –1,056 –
Andy Halford 592 342 897 396 56 16 145 –1,690 754
Thomas Geitner(3) 574 734 –851 186 148 2,003 –2,763 1,733
Sir Julian Horn-Smith 345 1,022 345 1,169 102 48 103 –895 2,239
Non-executive directors
Dr Michael Boskin 139 144 ––––––139 144
Lord Broers 95 95 ––14 –––109 95
Anne Lauvergeon 95 40 ––––––95 40
Professor Jürgen Schrempp 95 95 ––––––95 95
Luc Vandevelde 110 105 ––1–––111 105
Philip Yea 95 55 ––––––95 55
Anthony Watson 87 –––––––87 –
Nick Land 32 –––––––32 –
Alan Jebson 32 –––––––32 –
Penny Hughes 30 100 ––––––30 100
Former directors(4) ––––––1,470 1,283 1,470 1,283
4,907 4,869 3,670 3,840 686 323 3,836 1,283 13,099 10,315
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 2007. These awards are in relation to
the performance achievements against targets in adjusted operating profit, revenue, free cash flow and customer delight for the 2007 financial year.
(2) Other compensation includes the value of the cash allowance taken by some individuals in lieu of pension contributions. Please see the pensions note on page 84 for details. Other compensation also
includes payments made in respect of loss of office.
(3) Thomas Geitner received a payment of £1,715,478 for compensation for loss of office. He was also eligible for his bonus for the year to date of £574,338 which was waived in return for six equal
payments of £95,723 per month for six months. These payments run from January 2007 to June 2007 and are contingent on him not taking up a position at a competitor.
(4) Under the terms of his agreement, Peter Bamford received his termination payment as set out in the 2006 Annual Report. The £1.47 million is in respect of his £1.06 million severance agreement, with
the remaining £0.41 million being a cash allowance paid in lieu of his FURBs contributions prior to A-day.
The aggregate compensation paid by the Company to its collective senior management(1) for services for the year ended 31 March 2007, is set out below.
The aggregate number of senior management as at 31 March 2007 was eight, two fewer than at 31 March 2006.
2007 2006
£’000 £’000
Salaries and fees 3,817 4,555
Incentive schemes(2) 4,752 5,155
Benefits / Other(3) 7,228 3,125
15,797 12,835
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 2007, other than executive directors,
and reflects compensation paid from date of appointment to the Executive Committee, to 31 March 2007 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 84 and 85.
(3) Other compensation covers cash allowances in lieu of pension contributions that were introduced following the A-day changes and any payments made in respect of loss of office.
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