Remuneration for individual Executive Directors
The following table gives details of the remuneration received in 2007 (including the value of vested share match and options exercised) by each Executive Director individually.
| Annual Emoluments 2007 | Other income arising from long-term incentives and exercise of options in 2007 | |||||||||||
| Name and Base Country | Base salary ‘000 |
Allowances and other payments(a) ‘000 |
Value of benefits(b) ‘000 |
Bonus(c) ‘000 |
Total 2007 ‘000 |
Total 2006 ‘000 |
Option gains ‘000 |
Share match ‘000 |
TSR/ LTIP ‘000 |
Grand total 2007 ‘000 |
Grand total 2006 ‘000 |
|
| Patrick Cescau (UK)(d) | €1 426 | €129 | €47 | €2 346 | €3 948 | €2 727 | €50 | €63 | – | €4 061 | €2 940 | |
| [£973] | [£88] | [£32] | [£1 600] | [£2 693] | [£1 860] | [£34] | [£43] | [£2 770] | [£2 005] | |||
| Kees van der Graaf (NL) | €798 | €27 | €9 | €988 | €1 822 | €1 202 | – | €60 | – | €1 882 | €1 287 | |
| [£544] | [£19] | [£6] | [£674] | [£1 243] | [£819] | [£41] | [£1 284] | [£877] | ||||
| Ralph Kugler (UK) | €861 | €56 | €11 | €1 033 | €1 961 | €1 313 | – | €53 | – | €2 014 | €1 414 | |
| [£587] | [£38] | [£8] | [£705] | [£1 338] | [£895] | [£36] | [£1 374] | [£964] | ||||
| Rudy Markham (UK)(e) | €406 | €9 | €15 | €498 | €928 | €1 517 | – | €54 | – | €982 | €2 111 | |
| [£277] | [£6] | [£10] | [£340] | [£633] | [£1 035] | [£37] | [£670] | [£1 440] | ||||
(a) Includes: allowance in lieu of company car; blind trust fees compensation; compensation for loss of net income because part of the salary was paid in the Netherlands; entertaining allowance and employers cost for the all-employee savings plan in the Netherlands. All allowances are taxable in the country of residence apart from the entertaining allowance which is currently tax free in the Netherlands.
(b) Includes: benefits for company car; housing (for business use) instead of hotel; medical insurance and private use chauffeur driven cars. Included are benefits that are taxable in the country of residence. In addition, Unilever provides support to Executive Directors in relation to spouse’s travel expenses when travelling together on company business. This amount is capped at 5% of base salary and for 2007 totalled €168 559 (£114 991) (including related taxes payable).
(c) Bonus of the year 2007. Includes: the value of both the cash element and the element paid in shares of NV and PLC. In addition to the element of the bonus paid in shares each Executive Director is awarded, on a conditional basis, an equivalent number of matching shares.
(d) Group Chief Executive.
(e) Rudy Markham stepped down as Director at the May 2007 AGMs. He retired from Unilever at 31 October 2007. In the table above are the emoluments for the period January – May 2007. His emoluments for the period June – October were in total:
€1 140 000 (£777 708).
Figures have been translated into euros using the following exchange rate: €1 = £0.6822 (2006: €1 = £0.6818).
The Summary Financial Statement was approved by the Boards of Directors on 10 March 2008.
M Treschow
Chairman
P Cescau
Group Chief Executive
