Directors' remuneration
| Salary | Performance | Pension | 2007 | 2006 | ||
|---|---|---|---|---|---|---|
| fees | bonus(1) | allowance | Benefits | Total | Total | |
| £000 | £000 | £000 | £000 | £000 | £000 | |
| Chairman | ||||||
| Sir Tom McKillop | 750 | – | – | – | 750 | 471 |
| Executive directors | ||||||
| Sir Fred Goodwin | 1,290 | 2,860 | – | 40 | 4,190 | 3,996 |
| Mr Cameron | 988 | 1,900 | 341 | 27 | 3,256 | 3,496 |
| Mr Fish (2) | 999 | 200 | – | 54 | 1,253 | 2,679 |
| Mr Fisher (3) | 726 | 1,428 | 178 | 26 | 2,358 | 1,894 |
| Mr Pell | 825 | 1,377 | – | 2 | 2,204 | 2,120 |
| Mr Whittaker | 760 | 1,425 | 262 | 3 | 2,450 | 4,475 |
Notes:
(1) Includes 10% profit sharing.
(2) Mr Fish is a non-executive director of Textron Inc. and retains the fees paid to him in this respect. For 2007, he received a remuneration package from Textron Inc. equivalent to approximately US$87,565.
(3) On his appointment as Chairman of the Managing Board of ABN AMRO on 1 November 2007, Mr Fisher transferred to the Netherlands. In line with the Group's international assignment policy he was eligible for assistance in moving his home and family to the Netherlands and for ongoing tax equalisation, cost of living, housing and other secondment benefits, the value of which is £15,419 and is included under benefits, above.
| Board | Board | ||||||
|---|---|---|---|---|---|---|---|
| fees | committee fees | 2007 | 2006 | ||||
| Non-executive directors | £000 | £000 | £000 | £000 | |||
| Mr Buchan | 70 | 52 | 122 | 120 | |||
| Dr Currie | 70 | 15 | 85 | 80 | |||
| Mr Friedrich | 70 | 30 | 100 | 69 | |||
| Mr Hunter | 70 | 92 | 162 | 158 | |||
| Mr Koch (1) | 70 | – | 70 | 65 | |||
| Mrs Kong | 70 | 15 | 85 | 73 | |||
| Mr MacHale | 70 | 30 | 100 | 95 | |||
| Sir Steve Robson | 70 | 30 | 100 | 95 | |||
| Mr Scott (2) | 160 | 155 | |||||
| Mr Sutherland | 70 | 27 | 97 | 88 |
Notes:
(1) In addition to his role as a non-executive director, Mr Koch had an agreement with Citizens Financial Group, Inc. to provide consulting services for a period of three years, which ended on 1 September 2007, following the acquisition by Citizens of Charter One Financial, Inc. For these services Mr Koch received $268,333 in 2007.
(2) Mr Scott's senior independent director fee covers 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.
© 2008