Marks and Spencer 2005 Annual Report Download - page 23

MARKS AND SPENCER GROUP PLC 21
Part 2: Audited Information
1 Directors’ emoluments Current
annual Termination Total Total
salary/fee Salary/fee Benefits Bonus payments62005 2004
£000 £000 £000 £000 £000 £000 £000
Chairman
Paul Myners1 200 147 2 – – 149 50
Chief Executive (appointed from)
Stuart Rose (31 May 2004)2850 708 1,411 – – 2,119 –
Executive directors
Alison Reed3400 389 35 200 – 624 388
Charles Wilson (31 May 2004)2500 417 997 – – 1,414 –
Non-executive directors
Steven Holliday (15 July 2004) 50 36 – – – 36 –
Anthony Habgood (15 July 2004) 50 36 – – – 36 –
Jack Keenan460 56 – – – 56 50
Kevin Lomax 60 60 – – – 60 60
Directors retiring from the Board during the year
Brian Baldock (14 July 2004)5–30–––30 60
Barbara Cassani (30 April 2004) – 4 – – – 425
Maurice Helfgott (9 November 2004)7– 213 20 – 509 742 126
Roger Holmes (31 May 2004)8– 103 15 – 847 965 693
Mark McKeon (9 November 2004)9– 211 24 – 464 699 –
Laurel Powers-Freeling (9 November 2004)10 – 262 52 350 502 1,166 447
Vittorio Radice (11 June 2004)11 –9730 –731858 556
Dame Stella Rimington (14 July 2004)5–30–––30 60
Luc Vandevelde (31 May 2004)12 – 76 5 – 598 679 547
Former directors ––––––1,461
Total 2,875 2,591 550 3,651 9,667 4,523
The elements included in the benefits column of the emoluments table are described in detail in the Salaries and benefits section on
page 17 and have been audited.
1Paul Myners received a salary increase from £50,000 to £200,000 per annum effective from 10 August 2004, relating to his continuing in the role of Chairman
as announced on 5 August 2004.
2Stuart Rose and Charles Wilson received a signing on fee of £1,250,000 and £900,000 respectively, which is included in the benefits figure.
3Alison Reed received a salary increase from £360,000 to £400,000 effective from 14 July 2004.
4Jack Keenan received a fee increase from £50,000 to £60,000 per annum effective from 1 September 2004 related to his appointment as chair of the
Remuneration Committee.
5The fees for Brian Baldock and Dame Stella Rimington include payment in lieu of notice for the period 15 July to 30 September 2004.
6Termination payments comprise one year’s salary and loss of benefits which include bonus, car benefits and loss of pensionable service.
7Maurice Helfgott retired from the Board on 9 November 2004, but remained in employment with the Company until 30 November 2004. During this period, the
following payments were received, which are included in the table above: Salary, £18,000, benefits, £2,000. His termination payment was made up of salary,
£320,000, benefits £189,000.
8Roger Holmes’ termination payment was made up of salary £600,000, benefits £247,000.
9Mark McKeon was appointed to the Board on 5 April 2004 on a salary of £320,000 per annum. He retired from the Board on 9 November 2004, but remained in
employment with the Company until 30 November 2004. During this period, the following payments were received, which are included in the table above: Salary,
£19,000, benefits, £2,000. His termination payment was made up of salary, £320,000, benefits £144,000.
10Laurel Powers-Freeling retired from the Board on 9 November 2004, but remained in employment with the Company until 31 December 2004. During this period,
the following payments were received, which are included in the table above: Salary, £49,000, benefits, £10,000. Her termination payment was made up of salary,
£350,000, benefits £152,000.
11Vittorio Radice received a salary increase from £435,000 to £485,000 effective from 5 April 2004, reflecting his increased responsibilities. His termination payment
was made up of salary £485,000, benefits £246,000.
12Luc Vandevelde’s salary was paid in the form of shares bought on the 10th of each month at the market price of shares on that day. His termination payment, was
made up of salary £593,000, benefits £5,000.