Food Lion 2009 Annual Report Download - page 62

58 - Delhaize Group - Annual Report 2009
(in EUR)
2007 2008 2009
Non-Executive Directors
Count Jacobs de Hagen
150 000 160 000 160 000
Claire Babrowski 79 000
(1)
85 000 85 000
François Cornélis
0
48 791
(2)
80 000
Count de Pret Roose de Calesberg 80 000 85 000 85 000
Jacques de Vaucleroy 75 000 80 000 80 000
Hugh G. Farrington 80 000 85 000 85 000
Count Goblet d’Alviella 80 000 85 000 85 000
Robert J. Murray 90 000 95 000 95 000
Dr. William L. Roper 75 000 46 739
(3)
0
Didier Smits 80 000 85 000 82 033
(4)
Jack L. Stahl
0
33 261
(5)
82 967
Baron Vansteenkiste 75 000 80 000 80 000
Total Non-Executive Directors 864 000 968 791 1 000 000
Executive Director
Pierre-Olivier Beckers
(6)
75 000 80 000 80 000
Total 939 000 1 048 791 1 080 000
Executive Management Compensation
The term “Executive Management” refers to the
individuals who are members of the Delhaize
Group Executive Committee.
Delhaize Group’s Remuneration Policy is
tailored to emphasize the delivery of strong
annual earnings growth as well as sustained
increases in shareholder value in the long
term. Short-term performance is rewarded in
cash while long-term performance is rewarded
through a combination of cash and equity-
based instruments. In the following para graphs,
we outline in detail the different components
of Executive Management compensation and
illustrate its evolution over time.
The executive compensation package includes
the following components:
> base salary;
> annual bonus;
> long-term incentives (“LTI”); and
> other benefits, retirement and post-
employment benefits.
When determining a compensation package,
the RNC considers all of these elements.
In general, these components can be
categorized as either fixed or variable. The
base salary and other benefits, retirement
and post-employment benefits are considered
fixed. The annual bonus and the different
components of the long-term incentives are
considered variable.
Fixed
- Base Salary
- Other Benefits
Long-Term (LTI)
- Annual Bonus - Stock Options / Warrants
- Restricted Stock Unit Awards
- Performance Cash Grants
Variable
Short-Term
Delhaize Group believes that the current
proportion of fixed versus variable pay offers its
executives the right incentives to optimize both
the short-term and long-term objectives of the
Company and its shareholders.
The following graphs illustrate the proportion
of fixed versus variable compensation for
both the CEO and other members of Executive
Management. These charts reflect base
salary, annual bonus and performance cash
components granted in 2009.
Variable - 67.4%
Fixed - 32.6%
Fixed vs Variable Compensation for the CEO
Variable - 54.5%
Fixed - 45.5%
Fixed vs Variable Compensation for the Other
Members of Executive Management
(1)
Prorated: Ms Babrowski became member of the Audit Committee effective March 14, 2007.
(2)
Prorated: Mr Cornélis became member of the Board of Directors effective May 22, 2008.
(3)
Prorated: Mr Roper resigned from the Board of Directors effective July 31, 2008.
(4)
Prorated: Mr Smits resigned from the Audit Committee effective May 28, 2009.
(5)
Prorated: Mr Stahl became member of the Board of Directors effective August 1, 2008 and member of the
Audit Committee effective May 28, 2009.
(6)
The amounts solely relate to the remuneration of the executive director and exclude his compensation as
CEO that is separately disclosed below.