Santa Ana computer parts wholesaler Ingram Micro Inc. more than doubled the total compensation of its top officers last year as it was losing money and its stock was sliding.
Ingram's annual proxy statement, filed Friday, shows that it awarded a $1.7-million bonus to Chairman and Chief Executive Kent Foster in 2002 on top of his $1.1-million base salary. In 2001, Foster earned a $31,000 bonus on nearly the same base salary.
President and Chief Operating Officer Michael Grainger's bonus jumped from $177,000 to $798,000 while his salary held fairly steady.
Other bonuses, including those for Guy Abramo and Thomas Madden, both executive vice presidents, and Kevin Murai, president of Ingram's North American operations, increased dramatically as well.
In addition, Grainger, Abramo and Murai received "executive retention agreement" payments averaging $1 million. In 2001, none of the three had such non-salary, non-bonus payments of more than $160,000.