Element | Purpose | Calculation | £000 |
Basic salary | To attract and retain talented people | Determined by responsibilities, skills and experience
Benchmarked against other large FTSE 100 retailers and international equivalents | 1,563 (including benefits) |
Short-term performance related pay | |||
Cash bonus | Motivates year-on year earnings growth and delivery of strategic business priorities | Based on specific objectives and EPS (earnings per share) targets e.g. development of international and non-food businesses | 2,300 |
Deferred share bonus | Generates focus on medium-term targets and, by incentivising share price and dividend growth, ensures alignment with shareholder interests | Based on total shareholder return targets | 1,690 |
Long-term performance related pay | |||
Performance share plans and share Options | Assures a focus on long-term business success and shareholder returns | Based on a mix of ROCE (return on capital employed), EBIT (earnings before interest and tax) and EPS | 1,205 |
Total £5,472,000 | |||