Loreal 2011 Annual Report Download - page 57

55REGISTRATION DOCUMENT − L’ORÉAL 2011
Corporate governance
2
Remuneration of the members oftheBoard ofDirectors andthecorporate of cers
The summary table showing the remuneration, stock options and performance shares awarded to the Chairman and Chief Executive
Officer is as follows:
Mr.Jean-Paul Agon
Chairman and Chief Executive Officer
In euros 2011 2010
Remuneration due in respect of the financial year 3,964,000 3,835,000
Valuation of stock options granted during the financial year 3,716,000(1) 6,868,000(1)
Valuation of performance shares awarded during the financial year 0 0
Total 7,680,000 10,703,000
(1) Fair value estimated under IFRS for the preparation of the Company’s consolidated financial statements . The figure2011 takes into account
therenouncement by Mr.Jean-Paul Agon at 200,000stock options allocated under the Plan of April22nd, 2011.
2.3.2.2. Remuneration of the Chairman
oftheBoard of Directors
(untilMarch17th, 2011)
Sir Lindsay Owen-Jones assumed the duties of Chairman of
the Board of Directors until March17th, 2011, the date as from
which the Board of Directors’ meeting of February10th, 2011
decided to reunify the duties of Chairman with those of Chief
Executive Officer and to entrust them to Mr.Jean-Paul Agon, Sir
Lindsay Owen-Jones remaining a Director of L’Oréal and being
appointed as Honorary Chairman.
On the same day, the Board of Directors adopted the following
decisions, on the recommendation of the Human Resources
and Remuneration Committee:
♦the fixed remuneration of Sir Lindsay Owen-Jones for 2011
was maintained at the same level as for 2010, i.e .€1,000,000
on an annual basis, including benefits in kind, and without
any additional variable remuneration. The amount of such
remuneration was therefore €213,888 on a prorated basis for
the period from January1st, 2011 to March17th, 2011;
♦in respect of his duties as Chairman of the Board of Directors,
Sir Lindsay Owen-Jones had secretarial services, a company
car and a chauffeur at his disposal;
♦as from March18th, 2011, Sir Lindsay Owen-Jones no longer
received any remuneration or any special benefit other than
his attendance fees as a Director.
The summary table showing the Chairman of the Board of Directors’ remuneration is as follows:
Sir Lindsay Owen-Jones
Chairman of the Board of Directors
(until March17th, 2011)
In euros
2011
(until March17th, 2011) 2010
Amounts due Amounts paid Amounts due Amounts paid
Fixed remuneration 210,631 210,631 1,317,996 1,317,996
Variable remuneration 0000
Exceptional remuneration -- -- --
Attendance fees(1) 61,000 85,000 85,000 90,000
Benefits in kind 3,257 3,257 15,336 15,336
Total 274,888 298,888 1,418,332 1,423,332
(1) The attendance fees for year N are paid in year N+1.
The summary table showing the remuneration, stock options and performance shares awarded to the Chairman of the Board of
Directors is as follows:
Sir Lindsay Owen-Jones
Chairman of the Board of Directors
(until March17th, 2011)
In euros 2011 2010
Remuneration due in respect of the financial year 274,888 1,418,332
Valuation of stock options granted during the financial year 0 0
Valuation of performance shares awarded during the financial year 0 0
Total 274,888 1,418,332