Philips 2007 Annual Report Download - page 178

Philips Annual Report 2007184
Remuneration of the Supervisory Board
The remuneration of the members of the Supervisory Board
amounted to EUR 540,000 (2006: EUR 494,500, 2005: EUR 496,625);
former members received no remuneration.
The annual remuneration for individual members is EUR 41,000 and
for the Chairman EUR 75,000. Additionally, the annual remuneration
for a regular member of a committee of the Supervisory Board is
EUR 4,500, for the Chairman of a committee EUR 6,000 and for the
Chairman of the Audit Committee EUR 7,000. At year-end 2007,
the present members of the Supervisory Board held no stock options.
The individual members of the Supervisory Board received, by virtue
of the positions they held, the following remuneration (in euros):
membership committees total
2007
W. de Kleuver 75,000 10,500 85,500
L. Schweitzer 41,000 4,500 45,500
R. Greenbury 41,000 4,500 45,500
J-M. Hessels 41,000 7,000 48,000
K.A.L.M. van Miert 41,000 4,500 45,500
C.J.A. van Lede 41,000 6,000 47,000
J.M. Thompson 41,000 9,000 50,000
E. Kist 41,000 4,500 45,500
N.L. Wong 41,000 − 41,000
J.J. Schiro 41,000 4,500 45,500
H. von Prondzynski (Apr.-Dec.) 41,000 − 41,000
485,000 55,000 540,000
2006
W. de Kleuver 75,000 10,500 85,500
L. Schweitzer 41,000 4,500 45,500
R. Greenbury 41,000 4,500 45,500
J-M. Hessels 41,000 7,000 48,000
K.A.L.M. van Miert 41,000 4,500 45,500
C.J.A. van Lede 41,000 6,000 47,000
J.M. Thompson 41,000 4,500 45,500
E. Kist 41,000 4,500 45,500
N.L. Wong 41,000 − 41,000
J.J. Schiro 41,000 4,500 45,500
444,000 50,500 494,500
2005
L.C. van Wachem
(Jan.-March) 37,500 2,625 40,125
W. de Kleuver 66,500 10,500 77,000
L. Schweitzer 41,000 1,125 42,125
R. Greenbury 41,000 4,500 45,500
J-M. Hessels 41,000 7,000 48,000
K.A.L.M. van Miert 41,000 4,500 45,500
C.J.A. van Lede 41,000 5,625 46,625
J.M. Thompson 41,000 4,500 45,500
E. Kist 41,000 3,375 44,375
N.L. Wong (Apr.-Dec.) 41,000 − 41,000
J.J. Schiro (Oct.-Dec.) 20,500 375 20,875
452,500 44,125 496,625
Supervisory Board members’ and Board of Management
members’ interests in Philips shares
Members of the Supervisory Board and of the Board of Management
are not allowed to hold any interests in derivative Philips securities.
number of shares
as of December
31, 2006
as of December
31, 2007
W. de Kleuver 4,131 4,131
H. von Prondzynski n.a.1) 430
L. Schweitzer 1,070 1,070
J.M. Thompson 1,000 1,000
G.J. Kleisterlee 134,740 151,916
P-J. Sivignon 3,556 10,779
G.H.A. Dutiné 22,404 33,633
T.W.H.P. van Deursen 58,888 68,543
R.S. Provoost 21,049 30,198
A. Ragnetti 12,625 20,729
S.H. Rusckowski n.a.1) 26,584
1) Reference date for board membership is December 31
35
Fair value of nancial assets and liabilities
The estimated fair value of nancial instruments has been determined
by the Company using available market information and appropriate
valuation methods. The estimates presented are not necessarily
indicative of the amounts that will ultimately be realized by the Company
upon maturity or disposal. Additionally, because of the variety of
valuation techniques permitted under SFAS No. 107, ‘Disclosures
about Fair Value of Financial Instruments’, comparisons of fair values
between entities may not be meaningful. The use of different market
assumptions and/or estimation methods may have a material effect
on the estimated fair value amounts.
December 31, 2006 December 31, 2007
carrying
amount
estimated
fair value
carrying
amount
estimated
fair value
Assets
Cash and cash equivalents 5,886 5,886 8,769 8,769
Accounts receivable -
current 4,732 4,732 4,670 4,670
Other non-current nancial
assets excluding
cost-method investments 7,012 7,012 2,156 2,156
Accounts receivable -
non-current 214 213 84 84
Main listed investments in
equity-accounted investees 2,735 2,803 1,708 2,688
Derivative instruments -
assets 298 298 275 275
Trading securities 192 192 − −
Liabilities
Accounts payable (3,443) (3,443) (3,372) (3,372)
Debt (3,869) (4,009) (3,557) (3,640)
Derivative instruments -
liabilities (101) (101) (144) (144)
128 Group nancial statements
Notes to the group nancial statements
188 IFRS information 240 Company nancial statements