Directors’ remuneration
Audited information
The remuneration of the Directors for the year ended 31 December 2008 payable by Group companies was as follows:
| Salary/ fees £ |
Bonuses | Pensions £ |
Taxable benefits2 £ |
2008 Total £ |
2007 Total £ |
||
|---|---|---|---|---|---|---|---|
| Cash £ |
Shares1 £ |
||||||
| Executive Directors | |||||||
| Aidan Heavey | 640,500 | 480,375 | 384,300 | 96,075 | 33,185 | 1,634,435 | 1,285,121 |
| Graham Martin | 362,250 | 271,688 | 217,350 | 54,338 | 2,745 | 908,371 | 710,841 |
| Angus McCoss | 362,250 | 271,688 | 217,350 | 36,225 | 2,388 | 889,901 | 674,025 |
| Paul McDade | 362,250 | 271,688 | 217,350 | 36,225 | 3,078 | 890,591 | 645,826 |
| Ian Springett3 | 120,750 | 163,013 | – | 18,113 | – | 301,876 | – |
| Directors leaving the Board during 2008 | |||||||
| Tom Hickey4 | 307,125 | 414,619 | – | 30,713 | – | 752,457 | 781,245 |
| Matthew O’Donoghue5 | 73,500 | – | – | – | – | 73,500 | 518,000 |
| Subtotal | 2,228,625 | 1,873,071 | 1,036,350 | 271,689 | 41,396 | 5,451,131 | 4,615,058 |
| Non-executive Directors | |||||||
| Pat Plunkett | 170,000 | – | – | – | – | 170,000 | 150,000 |
| Clare Spottiswoode | 63,000 | – | – | – | – | 63,000 | 46,000 |
| Steven McTiernan | 63,000 | – | – | – | – | 63,000 | 46,000 |
| David Bamford | 53,000 | – | – | – | – | 53,000 | 46,000 |
| David Williams | 63,000 | – | – | – | – | 63,000 | 46,000 |
| Ann Grant6 | 33,363 | – | – | – | – | 33,363 | – |
| Subtotal | 445,363 | – | – | – | – | 445,363 | 334,000 |
| Total | 2,673,988 | 1,873,071 | 1,036,350 | 271,689 | 41,396 | 5,896,494 | 4,949,058 |
Notes:
- These figures represent that part of the bonus required to be deferred into shares.
- The amounts disclosed under Taxable Benefits for Aidan Heavey include car benefits.
- Ian Springett was appointed as Chief Financial Officer on 1 September 2008 on a starting salary of £362,250 p.a. His 2008 bonus entitlement was pro rated for his period of service.
- Tom Hickey resigned from the Board on 1 September 2008. Following his resignation from the Board, he received £34,125 salary in his capacity as an employee. As he left employment during the year, the Remuneration Committee exercised its discretion not to defer any of the 2008 bonus entitlement into shares.
- Matthew O’Donoghue retired from the Board on 31 March 2008. Mr O’Donoghue agreed to provide consultancy services for a 12-month period from 1 April 2008 for which he will receive fees of £294,000.
- Ann Grant was appointed as a non-executive Director on 15 May 2008.
