Reuters Group PLC Annual Report and Form 20 ... - Thomson Reuters

16 Reuters Group PLC Annual Report and Form 20-F 2002Remuneration reportcontinued6. Directors’ remuneration for 2002Directors’ emoluments 2002 2001Expense TerminationSalary/fees Bonus Benefits allowances payments Total 6 Total£000 £000 £000 £000 £000 £000 £000Chairman:Sir Christopher Hogg 263 – 14 – – 277 274Non-executive directors:Sir John Craven 45 – – – – 45 45Ed Kozel 35 – – – – 35 35Dennis Malamatinas (retired 9 October 2002) 27 – – – – 27 35Roberto Mendoza 35 – – – – 35 35Dick Olver 45 – – – – 45 45Charles Sinclair 45 – – – – 45 45Ian Strachan 1 110 – – – – 110 82Executive directors:Tom Glocer 2 816 612 282 – – 1,710 2,065Philip Green 3 450 259 11 116 – 836 734David Grigson 4 400 220 2 68 – 690 641Geoffrey Weetman 5 (retired 31 July 2002) 219 – 16 – 624 859 244Total emoluments of directors 2,490 1,091 325 184 624 4,714 4,280Other senior executives as a group (8 persons) 7 (2001: 17 persons) 2,283 1,233 136 96 – 3,748 6,676Notes:1. Fees paid to Ian Strachan include £75,168 in respect of his position as a non-executive director of Instinet. He also received from Instinet 4,153 restricted shares,which vested in September 2002 with a market value of £14,215, and 7,123 restricted shares that will vest in September 2003.2. Non-cash benefits received by Tom Glocer included accommodation costs of £230,000, travel and relocation-related expenses of £30,000, and company car andhealthcare benefits totalling £22,000.3. Philip Green received company car and healthcare benefits totalling £11,000 and a retirement allowance of £116,000.4. David Grigson received healthcare benefits of £2,000, a car allowance of £7,000 and a retirement allowance of £61,000.5. Under the terms of his service contract Geoffrey Weetman was entitled to a termination payment of £597,495 being equivalent to one year’s salary, bonus andemployer’s pension contributions. He was also made a gift of his company car, valued at £27,000. Details of his share plan and pension arrangements on terminationare described on pages 17,19 and 20.6. For the purposes of the disclosure required by paragraph 1(a) of Schedule 6 to the Companies Act 1985, the total aggregate emoluments for the directors inrespect of the year ended 31 December 2002, which excludes termination payments, were £4.1 million. Total equivalent emoluments for 2001, which includedthe emoluments of certain directors not serving during 2002, were £5.9 million excluding termination payments of £1.9 million.7. The senior management group is identified on page 11 and included Devin Wenig prior to his appointment as a director on 17 February 2003.