Marks and Spencer 1999 Annual Report Download - page 11

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9
MARKS AN D SPEN CER p.l.c.
1 DIRECTORS’ EMOLUMENTS
Profit Total Total
Salary Share Benefits Bonus 2000 1999
£000 £000 £000 £000 £000 £000
Chairman (5) (6) (7)
Sir Richard Greenbury(1) 810
Executive directors
P L Salsbury (Chief Executive)(2) 439
P G McCracken 409
Lord Stone of Blackheath 416
R Aldridge 312
J R Benfield 275
R W C Colvill 342
Mrs C EM Freeman 230
BSMorris 230
J T Rowe 302
Non-executive directors
BF Baldock 50
Sir Martin Jacomb 34
Sir Michael Perry 34
D ame Stella Rimington 34
Sir Ralph Robins 34
The Hon D avid Sieff 45
Retired directors (with effect from)
D K Hayes (31 May 1999) 275
C Littmoden (31 May 1999)(8) 587
S J Sacher (31 May 1999) 293
P P D Smith (31 March 1999)(8)(9) 679
J K O ates (31 January 1999)(3)(9) 545
D G Trangmar (31 March 1998) n/a
D G Lanigan (31 July 1997) n/a
The Rt Hon The Baroness Young (31 July 1997) n/a
Total 6,375
(1) The roles of Chairman and Chief Executive were split from 1 February 1999. Sir Richard Greenbury, the Chairman and Chief Executive,
relinquished the role of Chief Executive on 31 January 1999.As Chairman he receives a salary of £• pa.As a non-executive director he no
longer participates in the profit share or bonus schemes, but retains share options previously granted under the Senior Staff Share O ption
Scheme and SAYE O ption Scheme.
(2) P L Salsbury, formerly Managing D irector, was appointed Chief Executive from 1 February 1999, on a salary of £• pa.
(3) J K O ates resigned from the Board and took early retirement on 31 January 1999.Terms concerning the termination of employment have
been implemented in accordance with his contract of employment amounting to £587,000.This relates to salary and benefits for the 11
months outstanding on his employment contract.Additionally, should a senior management bonus be payable for the 31 March 2000 financial
year, he will receive a further amount equal to 9/12ths of that bonus (maximum £85,000), which will be shown in next year’s Annual Report.
He has been awarded an Early Retirement Pension (see section 3(ii) of this report) of £166,000 pa payable for three and a half years, until
the normal senior management retirement age of 60.
(4) The highest paid director was Sir Richard Greenbury, whose emoluments were £• . N o gains were made on his share options this year. H is
accrued pension entitlement at the end of the year was £• . Last year, the highest paid director was JK O ates, whose emoluments, including
gains on share options, were £• with an accrued pension entitlement at the end of last year of £• .
(5) In line with all other members of staff, executive directors performing their duties mainly in the UK are allocated a profit share based on
a percentage of their salary. Further information on profit sharing is given in note 9C to the financial statements.
(6) Benefits for UK directors relate mainly to the provision of cars, fuel and travel. For expatriate directors see footnote (8).
REMUN ERATIO N REPO RT
ANNUAL REPORT AND FIN ANCIAL STATEMENTS 1999