REUTERS GROUP PLC ANNUAL REPORT AND ACCOUNTS 1999

the world. In 1999, television, text andphotographic workshops were held inArgentina, China, Czech Republic, Iran,Jordan, Lebanon, Libya, Mexico, SouthAfrica, Thailand, Turkey and the UK.Particular emphasis is placed in most courseson business, economic and financial news.Specialist subjects also include environmentaland medical reporting. Reuters Foundationuniversity study programmes offer workingmid-career journalists the opportunity to carryout personal research using the resources ofuniversities in Europe and the United States.Seventeen university fellowships wereawarded in 1999 for journalists to study atBordeaux, Cardiff (Wales) and Oxford,Columbia (New York), Missouri and Stanford(California). In emerging markets, ReutersFoundation ran a series of training courses formarket professionals in Mauritius, Nigeria,Syria and Uganda.During one of the worst years in recent timesfor humanitarian disasters, natural and manmade,Reuters Foundation’s AlertNet serviceproved an essential tool for internationalhumanitarian agencies responding toemergencies. AlertNet is a free Internet-basednews and communications service that aimsto provide concise and reliable informationwhich will make a useful contribution to thework of the international humanitariancommunity. By the end of 1999 it had 94members from 21 countries.Supplementing its support for the reliefprofessionals through AlertNet, ReutersFoundation also made cash grants to help thevictims of the disasters in Colombia, India,Taiwan, Turkey, Venezuela and Vietnam aswell as the conflict in Kosovo.In other areas of humanitarian and charitablesupport, Reuters Foundation is driven byrequests from Reuters colleagues – butusually only responds if they themselves areactively engaged in fund-raising or sharingtheir skills. The causes include a wide rangeof community problems, such as streetchildren in developing world capitals,medical campaigns, the environment andeducation through the arts.More information on the work of ReutersFoundation is contained in a separate annualreview, available on request from theDirector, Reuters Foundation, 85 Fleet Street,London EC4P 4AJ, or on the Foundation’swebsite: www.foundation.reuters.comNo political contributions are made.CREDITOR PAYMENT TERMSIt is Reuters normal procedure to agree termsof transactions, including payment terms,with suppliers in advance. Payment termsvary, reflecting local practice throughout theworld. It is Reuters policy that payment ismade on time, provided suppliers perform inaccordance with the agreed terms. Grouptrade creditors at 31 December 1999 wereequivalent to 32 days’ purchases during theyear.AUDITORSA resolution to re-appointPricewaterhouseCoopers as auditors at aremuneration to be agreed by the directorswill be placed before the annual generalmeeting (AGM).DIRECTORSThe names and biographical details ofdirectors who served during the year aregiven on pages 16–17. There are no crossdirectorships.A statement of directors’remuneration and their interests in shares andoptions of the company and its subsidiaries isset out on pages 24–30.The following changes to the Boardcomposition occurred after 31 December1999. On 1 January 2000, DennisMalamatinas joined the Board as a nonexecutivedirector and on 7 February 2000Philip Green was appointed as an executivedirector.On 15 January 2000, John Parcell resignedas a director and left the company. On 7February 2000, André Villeneuve resigned asa director to concentrate on his role asChairman of Instinet and on 8 February 2000it was announced that David Ure would indue course resign from the Board toconcentrate on his role as Chairman of thenew joint venture with Equant. Bob Baumanand Sir David Walker, who joined the Boardas non-executive directors in 1994 and whohave served two three-year terms, havedecided not to stand for re-election at theforthcoming AGM.Sir John Craven and Jean-Claude Marchandretire by rotation and are proposed forre-election as directors at the forthcomingannual general meeting. Dennis Malamatinasand Philip Green having been appointed bythe Board since the last AGM also retire andare proposed for re-election at the AGM. Asnon-executive directors, Sir John Craven andDennis Malamatinas do not have servicecontracts. Jean-Claude Marchand’s servicecontract is governed by Swiss law andtechnically is terminable on one year’s noticebut his entitlements are as if the contract wereterminable on two year’s notice. PhilipGreen’s service contract is also terminableon one year’s notice but with an initial termof two years from September 1999. Furtherinformation about these directors is set out onpages 16–17.By order of the BoardRosemary MartinCompany Secretary11 February 2000Reuters Group PLC Annual Report 1999 21