HSBC 2007 Annual Report Download - page 331

329
A fee of £30,000 per annum is payable to the
senior independent non-executive Director. In
addition, non-executive Directors receive the
following fees for service on Board Committees:
Chairman, Audit Committee ................................. £50,000 p.a.
Member, Audit Committee .................................... £20,000 p.a.
During 2007, seven meetings of the Group Audit Committee
were held.
Chairman, Remuneration Committee .................... £40,000 p.a.
Member, Remuneration Committee ...................... £20,000 p.a.
During 2007, eight meetings of the Remuneration Committee
were held.
Chairman, Nomination Committee ....................... £30,000 p.a.
Member, Nomination Committee .......................... £20,000 p.a.
During 2007, two meetings of the Nomination Committee were
held.
Chairman, Corporate Sustainability Committee ... £30,000 p.a.
Member, Corporate Sustainability Committee ...... £20,000 p.a.
During 2007, five meetings of the Corporate Sustainability
Committee were held.
Directors’ emoluments
(Audited)
The emoluments of the Directors of HSBC Holdings for 2007 were as follows:
Fees Salary Allowance1
Benefits
in kind2 Bonuses3
Total
2007
Total
2006
£000 £000 £000 £000 £000 £000 £000
Executive Directors
D J Flint ........................... – 679 374 25 800 1,878 1,355
M F Geoghegan4 .............. – 1,040 520 61 1,915 3,536 2,868
S K Green ........................ – 1,250 – 12 1,750 3,012 2,934
Non-executive Directors
Lord Butler ...................... 103 – – – – 103 115
R K F Ch’ien5, 6 ................ 79 – – – – 79 200
J D Coombe ..................... 105 – – – – 105 97
Baroness Dunn ................. 85 – – – – 85 85
R A Fairhead .................... 103 – – – – 103 85
W K L Fung7..................... 122 – – – – 122 136
J F Gil Diáz8...................... – – – – – – –
S Hintze5 .......................... 44 – – – – 44 105
J W J Hughes-Hallett ....... 97 – – – – 97 77
Sir Brian Moffat ............... 110 – – – – 110 145
Sir Mark Moody-Stuart ... 125 – – – – 125 125
G Morgan.......................... 77 – – – – 77 16
S W Newton ..................... 77 – – – – 77 65
S M Robertson ................. 94 – – – – 94 65
H Sohmen5, 9 .................... – – – – – – –
Sir Brian Williamson ....... 91 – – – – 91 85
Total10 .............................. 1,312 2,969 894 98 4,465 9,738 11,485
Total (US$000) 10 ............. 2,626 5,943 1,790 196 8,938 19,493 21,139
1 Executive allowance paid to fund personal pension arrangements.
2 Benefits in kind for executive Directors include provision of company car, medical insurance, other insurance cover, accountancy
advice and travel assistance.
3 These discretionary bonuses are in respect of 2007. See page 324 for comparison with 2006.
4 In return for the prior waiver of part of his bonus, an employer contribution has been made into a pension arrangement for
M F Geoghegan equal to £225,000 (2006: £215,000) which would otherwise have been paid.
5 Retired as a Director on 25 May 2007.
6 Includes fees as non-executive Chairman of HSBC Private Equity (Asia) Limited and as a non-executive Director of The Hongkong and
Shanghai Banking Corporation.
7 Includes fees as a non-executive Director of The Hongkong and Shanghai Banking Corporation.
8 Appointed as a Director on 2 January 2007 and retired as a Director on 5 March 2007. J F Gil Diáz elected to waive any fees payable
to him by HSBC Holdings (£10,833).
9 H Sohmen elected to waive any fees payable to him by HSBC Holdings (2007: £27,083; 2006: £65,000).
10 Total emoluments for 2006 include the emoluments of Directors who retired in that year.