Notes to the Consolidated Financial Statements
Notes 31 -37
- 31. Commitments
- 32. Contingent liabilities
- 33. Directors and key management compensation
- 34. Related party transactions
- 35. Employees
- 36. Subsequent events
- 37. New accounting standards
33. Directors and key management compensation
Directors
Aggregate emoluments of the directors of the Company were as follows:
| 2008 £m |
2007 £m |
2006 £m |
|
|---|---|---|---|
| Salaries and fees | 5 | 5 | 6 |
| Incentive schemes | 4 | 3 | 5 |
| Benefits | 1 | 1 | 2 |
| Other(1) | – | 4 | – |
| 10 | 13 | 13 |
| Note: | |
|---|---|
| (1) | Other includes the value of the cash allowance taken by some individuals in lieu of pension contributions and payments in respect of loss of office. |
The aggregate gross pre-tax gain made on the exercise of share options in the year ended 31 March 2008 by directors who served during the year was £nil (2007: £3 million, 2006: less than £1 million).
Further details of directors’ emoluments can be found in Directors’ Remuneration.
Key management compensation
Aggregate compensation for key management, being the directors and members of the Group Executive Committee, was as follows:
| 2008 £m |
2007 £m |
2006 £m |
|
|---|---|---|---|
| Short term employee benefits | 20 | 29 | 26 |
| Post-employment benefits: | |||
| Defined benefit schemes | 1 | 1 | 2 |
| Defined contribution schemes | 1 | 1 | 2 |
| Share-based payments | 10 | 6 | 16 |
| 32 | 37 | 46 |