Tribune staff report | Playboy Enterprises Chief Executive Scott Flanders earned $3.25 million in his first year on job, according to the Chicago-based media company’s proxy materials filed today.
Flanders, who was appointed in June 2009, earned a salary of $430,769 and a bonus of $400,000. He was awarded $406,500 in Playboy stock and more than $2 million in stock options. He was also compensated $732 for protection services, the company said.
Chairman and former CEO Christie Heffner received $2.25 million, most
of which came from a severance package worth $2.16 million.
Playboy, which is embarking upon a period of downsizing and restructing
under Flanders, saw its stock price grow nearly 40 percent in 2009,
ending the year at about $3.20 a share.
Today shares were trading up 4.5 percent at $3.95 midday on the New York Stock Exchange. Shares have a 52-week range of $1.93 to $5.22.
The company did not make any money either. go figure
For WHAT??? Six months of doing nothing! The Board of Directors should get fired.