RBS 2003 Annual Report Download - page 129
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127
Annual Report and Accounts 2003
Directors’ remuneration report
Chairman and non-executive directors
The original date of appointment as a director of the company and the scheduled date for the next re-election is as follows:
Date first appointed Next re-election
Sir George Mathewson 1.9.87 29.4.04
Sir Iain Vallance 14.1.93 29.4.04
Sir Angus Grossart 30.9.85 29.4.04
Emilio Botin 4.2.89 29.4.04
Colin Buchan 1.6.02 2006
Jim Currie 28.11.01 2005
Juan Inciarte 25.2.98 2005
Eileen Mackay 16.5.96 2006
Iain Robertson 14.1.93 29.4.04
Sir Steve Robson 25.7.01 2005
Bob Scott 31.1.01 2006
Peter Sutherland 31.1.01 2006
Other than Mr Robertson, the non-executive directors do not have service contracts or notice periods, although under the company’s
articles of association, all directors must retire by rotation and seek re-election by shareholders at least every three years.
Mr Robertson entered into a new contract to reflect his role as a non-executive director, which took effect on 25 June 2003. Under
this contract, Mr Robertson’s appointment will terminate at the company’s annual general meeting in April 2005, unless terminated
earlier by either party on one month’s written notice.
No compensation would be paid to the Chairman or to any non-executive director in the event of early termination.
The tables and explanatory notes on pages 128 to 131 report the remuneration of each director for the year ended 31 December 2003
and have been audited by the company’s auditors, Deloitte & Touche LLP.