RBS 2007 Annual Report Download - page 112

RBS Group • Annual Report and Accounts 2007
110
Directors’ remuneration report continued
Governance
The tables and explanatory notes on pages 110 to 114 report the remuneration of each director for the year ended 31 December 2007
and have been audited by the company’s auditors, Deloitte & Touche LLP
Directors’ remuneration
Salary/ Performance Pension 2007 2006
fees bonus(1) allowance Benefits Total Total
£000 £000 £000 £000 £000 £000
Chairman
Sir Tom McKillop 750———750471
Executive directors
Sir Fred Goodwin 1,290 2,860 — 40 4,190 3,996
Mr Cameron 988 1,900 341 27 3,256 3,496
Mr Fish (2) 999 200 — 54 1,253 2,679
Mr Fisher (3) 726 1,428 178 26 2,358 1,894
Mr Pell 825 1,377 — 2 2,204 2,120
Mr Whittaker 760 1,425 262 3 2,450 4,475
Notes:
(1) Includes 10% profit sharing.
(2) Mr Fish is a non-executive director of Textron Inc. and retains the fees paid to him in this respect. For 2007, he received a remuneration package from Textron Inc. equivalent to
approximately US$87,565.
(3) On his appointment as Chairman of the Managing Board of ABN AMRO on 1 November 2007, Mr Fisher transferred to the Netherlands. In line with the Group’s international
assignment policy he was eligible for assistance in moving his home and family to the Netherlands and for ongoing tax equalisation, cost of living, housing and other
secondment benefits, the value of which is £15,419 and is included under benefits, above.
Board Board
fees committee fees 2007 2006
Non-executive directors £000 £000 £000 £000
Mr Buchan 70 52 122 120
Dr Currie 70 15 85 80
Mr Friedrich 70 30 100 69
Mr Hunter 70 92 162 158
Mr Koch(1) 70 — 70 65
Mrs Kong 70 15 85 73
Mr MacHale 70 30 100 95
Sir Steve Robson 70 30 100 95
Mr Scott (2) 160 155
Mr Sutherland 70 27 97 88
Notes:
(1) In addition to his role as a non-executive director, Mr Koch had an agreement with Citizens Financial Group, Inc. to provide consulting services for a period of three years, which
ended on 1 September 2007, following the acquisition by Citizens of Charter One Financial, Inc. For these services Mr Koch received $268,333 in 2007.
(2) Mr Scott’s senior independent director fee covers all Board and Board Committee work including Chairmanship of the Remuneration Committee.
No director received any expense allowances chargeable to UK income tax or compensation for loss of office/termination payment.
The non-executive directors did not receive any bonus payments or benefits.