Annual Report and Financial Statements 2007 - Tesco PLC

Tables 1 to 8 are audited information.
Table 1 Directors’ emoluments
Executive Directors
Fixed emoluments Performance-related emoluments
Share Short-term
Incentive Deferred Total Total
Salary Allowances Benefits (b) Plan Short-term Shares Long-term (c) 2006/07 2005/06
£000 £000 £000 £000 £000 £000 £000 £000 £000
Sir Terry Leahy 1,202 – 99 3 1,240 1,240 834 4,618 3,979
Mr R Brasher 622 – 59 3 660 660 – 2,004 1,622
Mr P A Clarke 686 – 92 3 708 708 434 2,631 2,219
Mr A T Higginson 686 – 88 3 708 708 468 2,661 2,300
Mr T J R Mason (a) 686 542 354 3 1,005 708 467 3,765 2,256
Miss L Neville-Rolfe (d) 90 – 15 – 67 67 – 239 –
Mr D T Potts 686 – 33 3 708 708 436 2,574 2,219
Non-Executive Directors
Mr C L Allen 69 – – – – – – 69 58
Mr R F Chase 109 – – – – – – 109 100
Mrs K Cook 62 – – – – – – 62 55
Mr E M Davies 70 – – – – – – 70 60
Dr H Einsmann 62 – – – – – – 62 55
Mr K J Hydon 69 – – – – – – 69 58
Ms C McCall 62 – – – – – – 62 53
Mr D E Reid (Chairman) 536 – 76 – – – – 612 586
Total 5,697 542 816 18 5,096 4,799 2,639 19,607 15,620
(a) Mr T J R Mason relocated to the US during the year. Benefits and allowances were paid to Mr T J R Mason in line with the Tesco approach to expatriate transfers including
one-off payments for relocation, and travel and localisation costs including schooling. For future years this will be reduced to a non-pensionable salary supplement and a
more focussed package of benefits which recognises ongoing expatriate costs including travel, medical and tax-related costs and services. Mr T J R Mason’s short-term cash
bonus includes cash compensation payments in respect of accumulated share rights from existing plans paid in cash as a result of his move to the US.
(b) With the exception of Mr T J R Mason, benefits are made up of car benefits, chauffeurs, disability and health insurance, staff discount and gym/leisure club membership.
(c) The long-term bonus figures shown in table 1 relate to the additional 12.5% enhancements allocated in May 2006 on short-term and long-term awards under the old
bonus scheme. The long-term bonuses awarded on 20 July 2006 under the Performance Share Plan were awarded in the form of nil cost options with the exception of
Mr T J R Mason who received an unfunded promise to deliver shares. Details of this award are shown in table 6.
(d) Miss L Neville-Rolfe was appointed on 14 December 2006. The figures in table 1 are calculated from the date of her appointment.
33
THE BOARD AND THEIR
RESPONSIBILITIES