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10.1 Directors' emoluments

Executive directors

Figure 10 sets out an analysis of the pre-tax remuneration during the years ended 31 December 2008 and 2007, including bonuses but excluding pensions, for individual directors who held office in the Company during the year ended 31 December 2008.

Non-executive directors

Figure 11 sets out the fees and other emoluments paid to non-executive directors during the year ended 31 December 2008 which amounted to £1,177,000 (2007: £1,237,000).

Figure 10: Executive directors’ emoluments(1)
  Basic salary
as paid
Plus: Basic
salary sacrificed
into pension
scheme(2)


Total
basic salary
Annual
performance
bonus
– cash element(2)(3)


Benefits
in kind(4)



Total
  2008
£000
2007
£000
2008
£000
2007
£000
2008
£000
2007
£000
2008
£000
2007
£000
2008
£000
2007
£000
2008
£000
2007
£000
Cynthia Carroll(5) 1,050 900 1,050 900 319 641 198 1,126 1,567 2,667
René Médori 660 565 45 660 610 208 407 55 28 923 1,045
(1)
Subsequent to his retirement from the Board in 2004, Bill Nairn provided consultancy services to Anglo American, receiving £3,000 (2007: £38,000) for the provision of these services during the year. He resigned his non-executive directorships with listed subsidiaries of the Group in September 2007 and therefore received £nil fees (2007: £15,000) during 2008.
(2)
In 2008, René Médori contractually agreed with his employing company that supplementary pension contributions be made into his pension arrangements in return for an equivalent-cost reduction in the cash element of his BSP award for the 2007 performance period.
(3)
The split between the cash and share elements of the Bonus Share Plan is set out at bonus share plan.
(4)
Each executive director receives a car allowance and a limited amount of personal taxation/financial advice; they also receive death and disability benefits and medical insurance.
(5)
Cynthia Carroll was, in accordance with the terms of her appointment, entitled to be compensated for the tax due on her relocation expenses; this compensation is included in Benefits in kind above.
Figure 11: Non-executive directors’ emoluments(1)(2)
  Total fees
  2008
£000
2007
£000
Sir Mark Moody-Stuart 450 450
David Challen 89 80
Sir CK Chow (appointed 15 April 2008) 46
Chris Fay 80 80
Bobby Godsell (retired 15 April 2008)(3) 20 71
Sir Rob Margetts 84 93
Nicky Oppenheimer(3) 71 71
Fred Phaswana(3) 142 143
Mamphela Ramphele 65 65
Karel Van Miert 65 65
Peter Woicke 65 65
(1)
Each non-executive director, with the exception of Sir Mark Moody-Stuart, was paid a fee of £65,000 (2007: £65,000) per annum, and those non-executive directors who act as chairmen of the Audit Committee, Safety and Sustainable Development Committee and Remuneration Committee were paid an additional sum of £15,000 (2007: £15,000) per annum. The chairman of the Nomination Committee was paid an additional sum of £7,500 (2007: £7,500) per annum. The senior independent director (SID) received fees of £13,000 per annum. David Challen replaced Sir Rob Margetts as SID on 15 April 2008 and their additional fees in 2008 for this role were £9,000 (2007: £nil) and £4,000 (2007: £13,000) respectively.
(2)
In addition to the fees reported above for 2007, Ralph Alexander, who resigned on 26 October 2007, received fees of £54,000.
(3)
Bobby Godsell and Nicky Oppenheimer received fees for their services as non-executive directors of Anglo American South Africa Limited amounting to £1,000 (2007: £6,000) and £6,000 (2007: £6,000) respectively, which are included in the above table. Fred Phaswana is the non-executive chairman of Anglo American South Africa Limited and of Anglo Platinum and received fees for these services amounting to £69,000 (2007: £71,000), which are included in the above table.

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