Pension costs
The table below shows the pension costs of the individual members of the Executive Board.
Pension costs of the individual members of the Executive Board (1)
| amounts in thousands of euros | 2007 | 2006 | 2005 |
|---|---|---|---|
| Michel Tilmant | 874 | 689 | 685 |
| Eric Boyer de la Giroday | 566 | 439 | 482 |
| Dick Harryvan (2) | 324 | 206 | |
| John Hele (3) (4) | 72 | ||
| Eli Leenaars | 348 | 270 | 255 |
| Tom McInerney (2) (4) | 286 | 297 | |
| Hans van der Noordaa (2) | 267 | 170 | |
| Koos Timmermans (3) | 166 | ||
| Jacques de Vaucleroy (2) | 267 | 170 | |
| Cees Maas (5) (6) | 1,386 | 448 | 482 |
(1)For reasons of comparison, the company pension expenses are recalculated under IAS 19 with general assumption setting for 2005 to 2007.
(2)Dick Harryvan, Tom McInerney, Hans van der Noordaa and Jacques de Vaucleroy were appointed to the Executive Board on 25 April 2006. The figures for these members reflect pension costs in their capacity as Executive Board members.
(3)John Hele and Koos Timmermans were appointed to the Executive Board on 24 April 2007. The figures for these members reflect pension costs in their capacity as Executive Board members.
(4)John Hele’s and Tom McInerney’s pension costs have been translated from US dollars to euros at the average exchange rate for that year.
(5)Cees Maas stepped down from his position in the Executive Board on 24 April 2007 and retired on 1 June 2007. The 2007 figures for him reflect pension costs for the partial year until the last day of employment.
(6)The early retirement pension benefit is paid up until age 65 and during the early retirement benefit period, the plan provides for additional pension rights earned towards the old-age pension plan, which begins at age 65. The pension cost shown is the additional IFRS impact and cost related to the funding of Cees Maas’ old-age pension rights earned during the early retirement pension period, which must be fully realised by the company in the same year he has retired.
Pension costs of former members of the Executive Board who are not included in the above table amounted to nil in 2007, EUR 4,506 thousand in 2006 and EUR 1,184 thousand in 2005.