Marks and Spencer 2000 Annual Report Download - page 11

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Service contracts
During the year we introduced service contracts for all executive directors, divisional directors and executives. These contracts
are terminable on 12 months’ notice. Exceptions can be made where longer notice periods may be agreed for an initial period for
new recruits. For example, Alan McWalter and Luc Vandevelde were appointed with service contracts entitling them to two years’
notice reducing proportionately to one year during the first 12 months of their appointment. Non-executive directors do not have
service contracts.
Non-executive directors
The remuneration of non-executive directors is determined by the Chairman together with the executive directors. Non-executive
directors do not participate in the Company’s Profit Sharing, Save As You Earn or Executive Share Option Schemes, annual bonus
scheme or the Early Retirement Plan. Their fees are non-pensionable.
No increase in fees was made in the year under review other than for Brian Baldock in recognition of his appointment as
Chairman following Sir Richard Greenbury’s retirement, and for Dame Stella Rimington in recognition of her appointment as
Chair of the Remuneration Committee.
1 Directors’ emoluments PROFIT TOTAL TOTAL
SALARY SHARE BENEFITS 2000 1999
£000 £000 £000 £000 £000
Chairman (3) (4)
Luc Vandevelde(1) (appointed 28 February 2000) 59 n/a 2,011 2,070 –
Chief Executive
Peter Salsbury 560 13 20 593 439
Executive directors
Roger Aldridge 290 7 16 313 312
Robert Colvill 373 9 20 402 342
Clara Freeman 250 6 14 270 230
Guy McCracken 390 10 19 419 409
Alan McWalter(2) (appointed 1 January 2000) 69 n/a 85 154 –
Barry Morris 220 5 17 242 230
Joe Rowe 290 7 21 318 302
Non-executive directors
Brian Baldock(9) (Chairman 23 June 1999 to 27 February 2000) 177 n/a 1 178 50
Sir Martin Jacomb 34 n/a n/a 34 34
Sir Michael Perry 34 n/a n/a 34 34
Dame Stella Rimington(8) 46 n/a n/a 46 34
Sir Ralph Robins 34 n/a n/a 34 34
Sir David Sieff 34 n/a 11 45 45
Retired directors (with effect from)
James Benfield(6) (31 December 1999) 217 n/a 14 231 275
Lord Stone of Blackheath(6) (31 December 1999) 347 n/a 15 362 416
Sir Richard Greenbury(6)(7) (22 June 1999) 339 n/a 5 344 810
Derek Hayes(6) (31 May 1999) 85 n/a 9 94 275
Chris Littmoden(5)(6) (31 May 1999) 91 n/a 171 262 587
John Sacher(6) (31 May 1999) 84 n/a 5 89 293
Paul Smith(5) (31 March 1999) n/a n/a n/a n/ a 679
Keith Oates (31 January 1999) n/a n/a n/a n/ a 545
Total 4,023 57 2,454 6,534 6,375
9Annual Report and Financial Statements 2000