BT 2005 Annual Report Download - page 63

Performance graph
This graph illustrates, as required by the Companies Act 1985, the performance of BT Group plc measured by TSR
(adjusted for the rights issue and the demerger of BT’s mobile business in the financial year 2001/02) relative to a
broad equity market index over the past five years. The FTSE 100 is considered to be the most appropriate index
against which to measure performance for these purposes, as BT has been a constituent of the FTSE 100 throughout
the five-year period and the index is widely used. TSR is the measure of the returns that a company has provided for its
shareholders, reflecting share price movements and assuming reinvestment of dividends.
120
0
31 March
2001
31 March
2002
31 March
2003
31 March
2004
31 Marc
h
2005
BT's total shareholder return (TSR) performance over
the five financial years to 31 March 2005
20
40
60
80
100
BT
FTSE 100
1 A
p
ril 2000 = 100. Source: Datastream
Remuneration Review
This part of the Report on directors’ remuneration is subject to audit.
Directors’ emoluments
Directors’ emoluments for the financial year 2004/05 were as follows:
Basic
salary and
fees
Pension
allowance
net
of pension
contributions
a
Total salary
and fees
Annual
cash bonus
Expenses
allowance
Other
benefits
excluding
pension
Total
2005
Total
2004
£000 £000 £000 £000 £000 £000 £000 £000
Sir Christopher Bland
d
500 – 500 – – 32 532 532
B Verwaayen
cdf
700 127 827 448 196 41 1,512 1,968
A Green
df
444 – 444 204 – 36 684 791
H Lalani
def
64 – 64 136 – 7 207 –
I Livingston
bdf
469 120 589 198 19 10 816 913
Dr P Reynolds
bdf
400 – 400 213 19 21 653 737
Sir Anthony Greener 115 – 115 – – – 115 96
M van den Bergh 55 – 55 – – – 55 44
C Brendish 50 – 50 – – – 50 39
LRHughes 21 – 21 – – – 21 40
Baroness Jay 50 – 50 – – – 50 39
J Nelson 50 – 50 – – – 50 39
CGSymon 50 – 50 – – – 50 40
P Danon
bdfh
413 – 413 250 17 21 701 750
3,381 247 3,628 1,449 251 168 5,496 6,028
a
Balance or part of the pension allowance for the financial year 2004/05 – see ‘Pensions’ below.
b
Ian Livingston, Paul Reynolds and Pierre Danon each received a monthly cash allowance in lieu of a company car equivalent to £18,500 per annum.
c
Ben Verwaayen was entitled to a housing allowance of £250,000 per annum until 13 January 2005. In the financial year 2004/05, £196,000 was paid in
respect of that year (2004 – £250,000). These amounts are included in the table above under Expenses allowance.
d
Other benefits includes some or all of the following: company car, fuel or driver, personal telecommunications facilities and home security, medicaland
dental cover for the director and immediate family, special life cover, professional subscriptions and personal tax planning and financial counselling. In
addition, Paul Reynolds and Pierre Danon had interest free loans – see ‘Loans’ below.
e
Hanif Lalani joined the Board on 7 February 2005.
f
Deferred annual bonuses payable in shares in three years’ time, were awarded to Ben Verwaayen £224,000 (2004 – £429,500), Andy Green £102,000
(2004 – £168,000), Hanif Lalani £68,000 (2004 – £nil), Ian Livingston £99,000 (2004 – £162,500), Paul Reynolds £106,500 (2004 – £147,500) and
Pierre Danon £nil (2004 – £129,500).
When added to the amounts paid or payable for the 2004/05 financial year, in the table above, the total emoluments of Ben Verwaayen were
£1,736,000 (2004 - £2,397,500), Andy Green £786,000 (2004 – £959,000), Hanif Lalani £275,000 (2004 – £nil), Ian Livingston £915,000 (2004 –
£1,075,500), Paul Reynolds £759,500 (2004 – £884,500) and Pierre Danon £701,000 (2004 – £879,500).
g
Retirement benefits are accruing to three directors (2004 – three) under defined contribution arrangements and to three directors (2004 – three) and one
former director under a defined benefit scheme.
h
Pierre Danon resigned from the Board on 28 February 2005.
62 BT Group plc Annual Report and Form 20-F 2005 Report on directors’ remuneration