Vodafone 2002 Annual Report Download - page 65
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Board’s Report to Shareholders on Directors’ Remuneration Vodafone Group Plc 63Annual Report & Accounts and Form 20-F
The remuneration of the directors for the year to 31 March 2002 was as follows:
Compensation for
Salary/fees Bonuses Incentive schemes(1) Benefits loss of office Total
2002 2001 2002 2001 2002 2001 2002 2001 2002 2001 2002 2001
£000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000
Chairman
Lord MacLaurin 425 397 ––––55 17 ––480 414
Deputy Chairman
Paul Hazen 98 89 ––––––––98 89
Chief Executive
Sir Christopher Gent 1,192 1,069 –5,000 1,184 783 40 31 ––2,416 6,883
Executive directors
Peter Bamford 649 582 –1,000 644 426 32 31 ––1,325 2,039
Thomas Geitner(2) 500 414 ––499 341 22 12 ––1,021 767
Julian Horn-Smith 795 582 –2,000 789 426 23 23 ––1,607 3,031
Ken Hydon 649 582 –2,000 644 426 34 28 ––1,327 3,036
Non-executive directors
Dr Josef Ackermann (3) 58 57 ––––––––58 57
Dr Michael Boskin 65 62 ––––––––65 62
Professor Sir Alec Broers 65 62 ––––––––65 62
Penny Hughes 65 62 ––––––––65 62
Arun Sarin (4) 65 81 –1,000 ––814 –1,119 73 2,214
Sir David Scholey 65 62 ––––––––65 62
Jürgen Schrempp 65 57 ––––––––65 57
Henning Schulte-Noelle (5) 21 57 ––––––––21 57
Former directors (6) –117 ––––535 402 –9,153 535 9,672
4,777 4,332 –11,000 3,760 2,402 749 558 –10,272 9,286 28,564
Notes:
(1) These figures are the value of the awards under the Vodafone Group Short Term Incentive Plan applicable to the year ended 31 March 2002 and 31 March 2001.
(2) Salary and benefits for Thomas Geitner have been translated at the average exchange rate for the year of 11.6275 : £1
(3) Salary and benefits for Dr Josef Ackermann are for the period to 19 February 2002, when he resigned from the Board.
(4) Salary and benefits for Arun Sarin have been translated at the average exchange rate for the year of $1.4325 : £1.
(5) Salary and benefits for Henning Schulte-Noelle are for the period to 25 July 2001, when he resigned from the Board.
(6) Under the terms of an agreement, Sam Ginn provides consultancy services to the Group and is entitled to certain benefits. The estimated value of benefits
received by him to 31 March 2002 was £217,062, translated at the average exchange rate for the year of $1.4325 : £1. Payments totalling £297,000 were
made to a former director in the year, pending recovery of the sum under the terms of an insured long term disability plan. Under the terms of the Life President
arrangements for the late Sir Gerald Whent, the estimated value of benefits received by him in the year ended 31 March 2002 was £21,000. Remuneration to the
former directors includes the sum of £9,153,000 which was paid to Klaus Esser as compensation for loss of office in the year ended 31 March 2001.