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74
MARKS AND SPENCER GROUP PLC
DIRECTORS’ REPORT: GOVERNANCE
REMUNERATION REPORT
CONTINUED
FIGURE 29: NON-EXECUTIVE DIRECTORS TOTAL SINGLE FIGURE REMUNERATION (audited)
As detailed in the remuneration policy on
page 59, non-executive directors receive
fees reflective of the time commitment,
demands and responsibilities of the role.
The table opposite details the fees paid to
the non-executive directors for 2014/15
and 2013/14.
There was no increase to the fees during
the year.
Year
Basic fees
£000
Additional
fees
£000
Benefi ts
£000
Total
£000
Robert Swannell 2014/15 70 380 18 468
2013/14 70 380 21 471
Vindi Banga12014/15 70 12 0 82
2013/14700070
Alison Brittain22014/157000
70
2013/14 18 0 0 18
Miranda Curtis 2014/157000
70
2013/14700070
Martha Lane Fox 2014/157000
70
2013/14700070
Andy Halford32014/15 70 15 0 85
2013/14 70 11 0 81
Steven Holliday42014/151940
23
2013/14 70 15 0 85
Jan du Plessis52014/15 64 28 0 92
2013/14 70 30 0 100
1. The amounts shown refl ect that Vindi Banga was appointed as Remuneration Committee Chair on 8 July2014
and Senior Independent Director from 4 March 2015.
2. The amounts shown for 2013/14 refl ect that Alison Brittain joined the Board on 1 January 2014.
3. The amounts shown for 2013/14 refl ect that Andy Halford was appointed as Audit Committee Chair on 1 July 2013.
4. The amounts shown for 2014/15 refl ect that Steven Holliday retired from the Board on 8 July 2014.
5. The amounts shown for 2014/15 refl ect that Jan du Plessis retired from the Board on 4 March 2015.
FIGURE 30: NON-EXECUTIVE DIRECTORS SHAREHOLDINGS (audited)
The non-executive directors are not
permitted to participate in any of the
Company’s incentive arrangements. The
non-executive directors are required to
build and maintain a shareholding of at least
2,000 shares in the Company within two
months of their appointment to the Board.
Figure 30 opposite details the shareholding
of the non-executive directors who
served on the Board during the year as at
28 March 2015 (or upon their date of retiring
from the Board).
There have been no changes in the current
non-executive directors’ interests in shares
in the Company and its subsidiaries
between the end of the financial year
and 19May 2015.
Number of shares held2
Robert Swannell 120,000
Vindi Banga 2,000
Alison Brittain 2,596
Miranda Curtis 5,500
Martha Lane Fox 20,100
Andy Halford 21,000
Steven Holliday12,500
Jan du Plessis120,000
1. Shareholding as at the d ate of retirement from the Board.
2. Inclu d es shares held by connec ted persons.
FIGURE 31: NON-EXECUTIVE DIRECTORS’ AGREEMENTS FOR SERVICE
Non-executive directors have an agreement
for service for an initial three-year term
which can be terminated by either party
giving three months’ notice (six months’
for the Chairman).
The table opposite sets out these terms
for all current members of the Board.
Date of appointment Notice period/unexpired term
Robert Swannell 23/08/2010 6 months/6 months
Vindi Banga 01/09/2011 3 months/3 months
Alison Brittain 01/01/2014 3 months/3 months
Miranda Curtis 01/02/2012 3 months/3 months
Martha Lane Fox 01/06/2007 3 months/3 months
Andy Halford 01/01/2013 3 months/3 months
NON-EXECUTIVE DIRECTORS’ REMUNERATION