Directors’ report (continued)
Remuneration report (continued)
Key Management personnel of Wattyl Group
2006 Short-term benefits Post-employment Share-based payments
Name
Cash
salary and
fees
$
Cash
bonus
$
Non
monetary
benefits
$
Superannuation
$
Retirement
benefit
plan(9)
$
Deferred
incentive
Scheme
$
Performance
rights
$
Total
$
Non-executive directors
J.W. Ingram Chairman
P.C. Cadwallader(2)
P.E. Akopiantz(1)
D.J. Grady(7)
M.R. Brown(7)
235,000
32,333
76,837
112,583
110,641
–
–
6,915
–
9,958
55,869
5,662
–
44,425
–
290,869
37,995
83,752
157,008
120,599
Sub-total 567,394 16,873 105,956 690,223
Executive directors
Dr J.D. Nolan(7) 723,604 572,000 – – – 504,000(8) – 1,799,604
U.B. Meyerhans 444,905 322,835 – 12,866 – – 22,235 802,841
Other key management
personnel
J. Neumann 261,000 253,000 40,000 71,000 – – 14,600 639,600
J. Foyle(3) 160,177 52,212 40,708 15,929 – – 6,218 275,244
M. Robb 199,645 109,000 – 11,855 – – 5,217 325,717
R. Roberts 173,940 97,500 – 11,855 – – – 283,295
J. Croker 179,726 77,860 – 11,855 – – 731 270,172
Total key management
personnel 2,710,391 1,484,407 80,708 152,233 105,956 504,000 49,001 5,086,696
Other executives
D. Marginson(4) 54,264 – – 4,070 217,486 – 2,102 277,922
C. Muir(5) 150,723 56,056 – 7,753 196,315 – 4,049 414,896
R. Sharp(6) 98,372 11,667 – 6,797 159,542 – 2,422 278,800
(1)
P.E. Akopiantz was appointed a director on 15 September 2005
(2)
P.C. Cadwallader retired as a director on 28 October 2005
(3)
The New Zealand Privacy Act 1993 operates to prevent disclosure of emoluments
of New Zealand officers of the economic entity without
their consent. Mr Fuller has consented to this disclosure
(4)
D. Marginson (General Manager – Wattyl Australia Pty Ltd) terminated
employment on 31 August 2005
(5)
C. Muir (Group Operations Manager) terminated employment on 31 January 2006
(6)
R. Sharp (National Distribution Manager) terminated employment on 31 January
2006
(7)
Includes backpay of non-executive director committee fee adjustment for FY2005
(8)
Dr Nolan’s deferred incentive for FY2006
(9)
In 2003, the Board resolved to “grandfather” the then existing
retirement benefits scheme which had been approved and adopted at the 1990
Annual
General Meeting, to existing Board members and not offer the scheme to new
directors. As of October 31, 2005, the Board agreed to fix the retirement
benefits of Mr John Ingram and Ms Diane Grady with the fixed benefit invested
on their behalf until retirement from the Board
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