Inside these posts: Executive compensation

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Boeing CEO sees 2010 compensation rise

Boeing CEO Jim McNerney. (José M. Osorio/Chicago Tribune)

Boeing Chief Executive James McNerney’s compensation was valued at $19.7 million in 2010, up 1.5 percent from the previous year, as Boeing saw a rebound in commercial airplane orders, Boeing said in its proxy filing Friday.

The figure includes McNerney’s salary, bonuses, stock and options award and changes to his pension. McNerney’s annual bonus amounted to $4.4 million. Get the full story »

CEO of beleaguered J&J still got $29M in 2010

After a year in which Johnson & Johnson’s product quality control was deemed such a shambles that the U.S. government will oversee some plants, the board had praise for Chief Executive William Weldon and awarded him almost $29 million in overall compensation.

The once golden reputation of the diversified health care giant was tarnished by seemingly endless recalls of widely used consumer products as well as recalls of medical devices and products from other units in 2010. Get the full story »

Pay up, compensation down for Abbott’s White

Abbott Laboratories Chairman and Chief Executive Miles White received a 2 percent raise last year, to $1.89 million, though his bonus and other stock awards dipped amid a turbulent year for the North Chicago-based drug and medical product giant.

Abbott, which failed to win  Food and Drug Administration approval for certain prescription drugs, valued White’s total compensation package at nearly $25.6 million in 2010, down from $26.2 million in 2009, according to the company’s annual proxy statement filed Tuesday afternoon with the Securities and Exchange Commission.. The total includes stock awards, bonus, salary and other compensation. Get the full story »

$4M bonus lifts Immelt’s 2010 pay to $21M

General Electric Co. paid Jeffrey Immelt a $4 million cash bonus in 2010, after two years when the chief executive of the largest U.S. conglomerate declined a payout in the face of sliding profits. Get the full story »

Northern Trust’s Waddell got 8% raise in 2010

Crain’s Chicago Business | Frederick Waddell, chairman and chief executive of Northern Trust Co., received $12.8 million in total compensation last year, according a proxy filing with the Securities and Exchange Commission. The 8 percent increase, attributed largely to pension contributions, comes as the bank’s performance lagged that of its peers.

Baxter CEO’s compensation falls 20% in 2010

Baxter International Inc. Chief Executive Robert L. Parkinson Jr. received compensation valued at $11.5 million in 2010, down 20 percent from the prior year amid a sharp reduction in his annual bonus and a tumultuous year for the medical-products company. Get the full story »

Ford CEO Mulally gets $56.5M in stock award

Ford Motor Co. has rewarded CEO Alan Mulally with stock worth $56.5 million before taxes.

Chrysler CEO receives no salary for 2010

Sergio Marchionne, the chief executive of Chrysler Group LLC, did not receive a cash salary from Chrysler in 2010, the automaker managed by Fiat SpA revealed on Friday in a detailed filing with U.S. regulators.

Marchionne, who is also CEO of Italy’s Fiat, did receive a $600,000 stock grant for his services as a director on the company’s board from June 2009 until June 2010. Get the full story »

Kronos Foods picks new president

Kronos Foods Corp., the Glendale Heights-based manufacturer of gyros and other Mediterranean foods, has appointed Howard Eirinberg as president, a newly-created position, effective immediately. Kronos is a subsidiary of Kronos Foods Inc.

Eirinberg, 51, was previously president and COO of Chicago-based Vienna Beef, Ltd. In eight years with the company, he is credited with the developing new products, introducing them into new channels, and building the company’s brand awareness. Get the full story »

Discover CEO’s pay almost doubles in 2010

Discover Financial Services Co. said Chairman and Chief Executive David Nelms received compensation valued at about $8.5 million in fiscal 2010, almost double from the prior year.

The credit card issuer said in a regulatory filing Friday that Nelms’ base salary increased to $4.55 million from $1 million the previous year. His salary was made up of $1 million in cash and $3.55 million in stock. Get the full story »

Citi grants millions of stock options to top execs

Citigroup granted more than 18 million stock options to 15 senior executives, an award that could handsomely increase their compensation if the slowly recovering bank’s share price rises. Get the full story »

Exelon CEO’s pay rises 14%

Exelon CEO John Rowe saw his total compensation for 2010 rise 14 percent to $7.2 million, according to documents filed today with the Securities and Exchange Commission, an increase largely tied to a change in the theoretical value of his pension.

Rowe had the opportunity to earn stock performance awards worth $1.1 million — compensation that is directly tied to the performance of Exelon stock. But the company’s shares performed in the negative direction in 2010 and Rowe received no equity for performance.

At the same time, stock options worth $1.15 million were underwater at the end of 2010. Get the full story »

Steve Jobs’ 2010 compensation package still $1

Apple Inc. CEO Steve Jobs’ compensation package remained the usual $1 in fiscal 2010, but the value of the shares he owns has skyrocketed amid the company’s ongoing success with introducing shiny new gadgets many people come to find indispensible.

New convention chief lands bigger pay package

Donald P. Welsh at a press conference in Indianapolis, July 12, 2010. (Matt Detrich/The Star)

The Chicago Convention & Tourism Bureau will pay its new top executive $390,000 a year, with the potential to earn up to $78,000 more if growth objectives are met, the bureau’s chairman said Tuesday morning.

The package, which could total $468,000, will go to Indianapolis tourism executive Donald P. Welsh, whose hiring as the bureau’s new president and CEO was announced Monday evening. Salary information was not available at that time. He will step into the post in early February.

The salary package represents a substantial hike over the compensation paid to the previous top executive, Tim Roby, who resigned last month. In the fiscal year ended June 30, 2010, he received a salary and bonus package of $362,652, of which $260,540 was base salary, bureau officials said. The remainder was incentive bonus and pay for unused vacation time. Get the full story »

United-Continental CEO Smisek to get $975K salary

United-Continental CEO Jeff Smisek, center, talks with two employees on Sept. 23, 2010, in Houston. (Tribune)

Airline company United Continental Holdings Inc., formed Friday in the merger of UAL and Continental Airlines, said Chief Executive Jeff Smisek would receive an annual salary of $975,000.

Smisek, who had been CEO of Continental, may also receive 150 percent of his salary as an annual bonus. Pay details were disclosed by the company in a Securities and Exchange Commission filing Friday.

UAL and Continental merged to create the world’s largest carrier by traffic. Get the full story »