Aviva 2007 Annual Report Download - page 111
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8. Fees earned in 2007 by the non-executive directors are set out below.
Fees as
non-executive
Chairman of Committee Chairman / Membership
Board Senior the Group’s Corporate
membership independent operations Social Risk and
fees director in Spain Remuneration Audit Nomination Responsibility Regulatory Total fees
Lord Sharman,
Chairman £450,000 – – – – – – – £450,000
Nikesh Arora £30,000 – – – – – – £2,500 £32,500
Guillermo de la
Dehesa £57,500 – £27,397 – – £5,000 £5,000 – £94,897
Wim Dik £57,500 £17,500 – – – £5,000 £5,000 £5,000 £90,000
Mary Francis £57,500 – – £10,000 £10,000 – – £12,500 £90,000
Richard Goeltz £57,500 – – £20,000 £10,000 – – – £87,500
Carole Piwnica £57,500 – – £10,000 £10,000 – £5,000 – £82,500
Russell Walls £57,500 – – – £35,000 £4,704 – £5,000 £102,204
Scott Wheway £4,384 – – £731 –– £365 – £5,480
8.1. Following a full review in March 2007 of Aviva’s fees against market benchmarks (the first full review for two years) the following changes in NEDs’
emoluments were made with effect from 1 April 2007:
– The Chairman’s fee was increased from £375,000 pa to £475,000 pa
– Board membership fees were increased from £50,000 pa to £60,000 pa
– The additional fee payable to the Senior Independent Director was increased from £10,000 pa to £20,000 pa
– A fee of £15,000 pa was introduced for chairing the Risk and Regulatory Committee (inclusive of membership fee). Mary Francis had previously
received a membership fee of £5,000 pa
8.2. Nikesh Arora joined the board and the Risk and Regulatory Committee with effect from 1 July 2007
8.3. Scott Wheway joined the board, the Remuneration Committee and the Corporate Social Responsibility Committee with effect from 5 December 2007
Senior executives’ remuneration
The total compensation paid during the year to key management personnel, being those having authority and
responsibility for planning, directing and controlling the activities of the Company, including the Company’s directors and
NEDs (as required to be disclosed by International Accounting Standard 24) was £50 million (2006: £53 million) and is set
out below in note 58 to the Accounts.
Aviva plc
Annual Report and
Accounts 2007
107
Governance