Filed under: Chicago executives

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Allstate justifies Wilson’s pay as it prepares for proxy vote

From Bloomberg News | Northbrook-based insurer Allstate told a proxy advisory firm that Chief Executive Officer Thomas Wilson’s pay last year was justified as it braced for a vote on compensation.

Caterpillar CEO sees compensation quadruple

Caterpillar CEO Douglas Oberhelman. (Andrew Harrer/Bloomberg)

An Associated Press review has found that Caterpillar quadrupled CEO Doug Oberhelman’s compensation last year when he took over the top job, but his $10.4 million package was less than half what the retiring chief executive received.

Oberhelman became CEO last summer and added the chairman title later after Jim Owens retired. Owens’ compensation more than tripled in 2010 to $22.5 million, mostly from a stock grant worth $16 million. Get the full story »

PrivateBancorp CEO’s compensation triples

PrivateBancorp Inc. Chief Executive Larry Richman saw his total compensation for 2010 rise to $2.68 million from $883,991, as the Chicago-based bank turned profitable recently but still logged another money-losing year. Get the full story »

Sears interim CEO pay more than triples in 2010

W. Bruce Johnson was appointed in 2008. (Sears handout)

Sears Holdings Corp. interim Chief Executive W. Bruce Johnson saw his compensation package rise 250 percent to $5.3 million last year, according to a proxy the Hoffman Estates-based company filed with the Securities and Exchange Commission.

Johnson, who held the spot until February, received a base salary of $980,000, up 15 percent from the prior year. His stock awards were $4.3 million, up from $663,000. Get the full story »

MB Financial’s former president joins Inland Bank

A former MB Financial president who recently left the $10.32 billion-asset bank after a management shakeup has stepped into the same position at Oak Brook-based Inland Bank & Trust. Get the full story »

McDonald’s Skinner gets $9.7M in 2010

McDonald’s Corp. Chief Executive Jim Skinner received a total of $9.7 million in compensation in 2010, including his roughly $42,000 annual salary increase and a 38 percent increase in his annual performance bonus. Get the full story »

JPMorgan Chase helps CEO Dimon on sale of Gold Coast mansion

JPMorgan CEO Jamie Dimon, right, listens to a question from the media after a speech at a conference on global capital markets in Washington, March 30, 2011. (Andrew Harrer/Bloomberg)

When Jamie Dimon, the chairman and chief executive of JPMorgan Chase & Co., finally sold his Gold Coast mansion at 25 E. Banks St. in 2010 after it had been on the market three years, the real estate crisis prevented him from getting the more than $13 million he originally wanted.

But he did get help from JPMorgan, which paid $421,458 in expenses related to the sale, according to a Securities and Exchange Commission filing made public yesterday. Get the full story »

CBOE chief’s pay dwarfs rivals at NYSE, CME

CBOE Holdings Inc. Chief Executive Officer William Brodsky, who steered the operator of the biggest U.S. options market through an initial public offering last June, received a giant pay boost for his efforts. Get the full story »

NIPSCO CEO gets 31% pay raise

From the Times of Northwest Indiana | NIPSCO’s chief executive Jimmy Staton received a 31 percent pay raise to $1.9 million last year while telling state regulators the utility needs more money from customers to cover increased costs.Get the full story>>

Discover Financial names new CFO

Discover Financial Services in suburban Riverwoods today named R. Mark Graf as its chief financial officer. The credit card company said Graf, 46, will oversee Discover’s financial operations, including treasury, accounting, investor relations and all financial reporting functions. Get the full story »

Facebook exec fired for stock acquisition

Facebook Inc. fired a senior manager for buying shares of the social networking powerhouse in a private, secondary-market transaction last September — four months before Goldman Sachs Group Inc.  announced its investment in Facebook, the Web site TechCrunch reported Friday, citing multiple sources. Get the full story »

Kraft CEO’s pay falls 27% in 2010 on unmet goals

Kraft CEO Irene Rosenfeld speaks at a town hall meeting at Kraft's headquarters in Northfield, Feb. 5, 2010. (William DeShazer/Chicago Tribune)

Efforts at Kraft Foods to more closely align executive compensation with company performance took a large bite out of Chief Executive Irene Rosenfeld’s 2010 pay package, the company disclosed Thursday in its annual proxy statement.

Rosenfeld’s overall compensation fell almost 27 percent, to $19.3 million, from $26.3 million in 2008, according to documents filed with the Securities and Exchange Commission. Get the full story »

Berkshire’s Sokol quits after stock purchases in takeover target

Former Berkshire Hathaway executive David Sokol, pictured here in 2009, said he did nothing wrong in buying stock in a company that he then suggested Berkshire acquire. (Reuters/Lucas Jackson)

The man widely seen as the leading successor to Warren Buffett at Berkshire Hathaway has resigned after buying shares in chemical company Lubrizol Corp before pushing Buffett to acquire it.

David Sokol’s resignation is a reputational blow for Buffett, the 80-year-old “Oracle of Omaha,” who prides himself on his folksy fair-dealing image and handpicks managers who can run businesses in a similarly transparent manner. Get the full story »

CBOE to drop vice chairman post, trading panel

Chicago Board Options Exchange  is eliminating its vice chairman board post and doing away with its trading advisory committee, shedding trappings of a member-owned structure that held sway prior to its June 2010 initial public offering. Get the full story »

Busch IV to end directorship at AB InBev

August Busch IV in 2006. (E. Jason Wambsgans/Chicago Tribune)

August Busch IV will step down as a director of Anheuser-Busch InBev next month, ending his family’s direct involvement with the world’s largest brewer.

“For personal and health reasons August Busch IV has decided not to seek re-election at the annual shareholders meeting,” Anheuser spokeswoman Marianne Amssoms said in an emailed statement. Get the full story »