§ Mr. BakerTo ask the Secretary of State for Culture, Media and Sport on what criteria(a) current and (b) former members of the Board of Directors of the New Millennium Experience Company will be judged when deciding (i) whether these individuals will receive a bonus and (ii) the level of any bonus. [145413]
§ Janet Anderson[holding answer 16 January 2001]The non-executive directors of the board of the New Millennium Experience Company (NMEC) have never received remuneration and have never, therefore, been eligible for bonus payments. Among current executive directors, only Mr. P. Y. Gerbeau is eligible to be considered for a bonus. The past executive directors of the board have contracts which describe certain circumstances under which bonuses might be payable subject to the board's discretion. As is conventional in any contractual relationship between employer and employee, the criteria for such bonuses are confidential. However, as NMEC' s annual report and financial statements for the period ended 31 December 1999 (published July 2000) stated
The performance related bonus scheme for executive directors includes critical success factors for the company covering the achievement of specified targets as well as an assessment of the personal contribution the individual has made to the success of the project. The total payable under the scheme to any director serving up to the end of 1999 is a maximum of 30 per cent. of contract earnings. The total payable to Mr. P. Y. Gerbeau is under review. Determination of the bonus payable will be entirely at the board's discretion and is based on its determination of performance against agreed criteria.The board's remuneration and recruitment committee is considering the issue of bonus payments to relevant directors and will be making its recommendations to the board in due course.