RBS 2008 Annual Report Download - page 165

RBS Group Annual Report and Accounts 2008164
Directors’ remuneration report continued
The tables and explanatory notes on pages 164 to 168 report the remuneration of each director for the year ended 31 December 2008 and have been
audited by the company’s auditors, Deloitte LLP.
Directors’ remuneration
Salary/ Pension 2008 2007
fees allowance Benefits Total Total
£000 £000 £000 £000 £000
Executive directors
Mr Hester (1) 163 52 1 216 —
Mr Pell 908 —1909 2,204
Mr Whittaker 829 282 4 1,115 2,450
Former Chairman
Sir Tom McKillop (2) 787 ——787 750
Former executive directors
Sir Fred Goodwin (3) 1,297 — 39 1,336 4,190
Mr Cameron (4) 902 312 25 1,239 3,256
Mr Fish (5) 324 — 40 364 1,253
Mr Fisher (6) 760 187 441 1,388 2,358
Notes:
(1) Mr Hester was appointed Group Chief Executive on 21 November 2008. He was previously a non-executive director from 1 October 2008.
(2) Sir Tom McKillop ceased to be Chairman and a director on 3 February 2009.
(3) Sir Fred Goodwin ceased to be Group Chief Executive and a director on 21 November 2008. His employment with the Group ceased on 31 January 2009.
(4) Mr Cameron ceased to be a director on 13 October 2008 and will cease employment with the Group on 28 February 2009.
(5) From 1 January 2008 until 30 April 2008, Mr Fish was an executive director of the company. He became a non-executive director on 1 May 2008 and ceased to be a director on 31 December
2008. Throughout this period, he was non-executive chairman of RBS America and Citizens. Mr Fish is a non-executive director of Textron Inc. and Tiffany & Co. and retained the fees paid to him
in this respect. For 2008, he received remuneration from Textron Inc. of US$260,500, including deferred fees. He received an annual fee of US$48,500 from Tiffany & Co.
(6) Mr Fisher ceased to be a director on 21 November 2008 and will cease employment with the Group on 6 March 2009. In line with the its international assignment policy, costs such as additional
tax and accommodation incurred as a result of Mr Fisher’s assignment to the Netherlands are met by the Group. These additional costs are shown in ‘Benefits’ above.
Board
Board committee 2008 2007
fees fees Total Total
£000 £000 £000 £000
Non-executive directors
Mr Buchan 73 57 130 122
Mr Hunter 73 101 174 162
Mr MacHale 73 33 106 100
Mr McFarlane (1) 18 — 18 —
Mr Ryan (1) 18 — 18 —
Former non-executive directors
Dr Currie (2) 73 16 89 85
Mr Friedrich (2) 73 33 106 100
Mr Koch (2) 73 — 73 70
Mrs Kong (2) 73 16 89 85
Sir Steve Robson (2) 73 33 106 100
Mr Scott (2, 3) 174 160
Mr Sutherland (2) 73 29 102 97
Notes:
(1) Appointed as directors on 1 October 2008.
(2) Retired as directors on 6 February 2009.
(3) Mr Scott’s senior independent director fee covered 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.