February 3, 2001 |
When Northrop Grumman Corp. completes its $3.8-billion purchase of Litton Industries Inc. next month, the biggest beneficiaries may well be Litton's top executives, who could end up with $168 million in compensation. According to a filing with the Securities and Exchange Commission on Thursday, the bulk of the merger-related largess will go to five senior executives at Litton, who could take home $110 million in vested stock options, severance and lump-sum supplemental retirement payments.
January 12, 2001 |
Quaker Oats Co. Chief Executive Robert Morrison will get a payment of about $19.3 million if he stays at least 18 months after PepsiCo Inc. completes its planned purchase. The payment is in addition to his $1.11-million annual salary. Morrison agreed to remain Quaker Oats' chairman, president and CEO after the acquisition. He also will become co-vice chairman of PepsiCo with Roger Enrico, the soft-drink maker's current chairman and CEO.
December 1, 2000 |
Costa Mesa drug maker ICN Pharmaceuticals Inc. cut the compensation, including the bonus and the stock award, of Chief Executive Milan Panic last year after the company's earnings slumped in 1998, according to a regulatory document. Most ICN executives were given smaller bonuses and stock grants last year compared to the previous year, according to a proxy statement filed with the Securities and Exchange Commission.
October 30, 2000
Friday's Top Gainers *--* Chief executive Company Friday's change Total value Steven A. Ballmer Microsoft +$778,787,708 $16,219,741,868 Sanjiv S. Sidhu I2 Technologies +316,688,029 8,160,801,000 Lawrence J. Ellison Oracle Corp. +165,644,519 45,304,081,856 Andrew J. McKelvey TMP Worldwide +109,920,055 1,358,394,412 B. Thomas Golisano Paychex +97,606,747 2,149,850,063 *--* Friday's Biggest Losers *--* Chief executive Company Friday's change Total value Keith J.
September 13, 2000 |
Oracle Corp. Chairman and Chief Executive Larry Ellison received options to buy 20 million shares of stock in the world's largest maker of database software as part of a new plan that gives him a single large option grant and no salary. Ellison, 56, received $208,000 in salary and no bonus for its fiscal year ended May 31, according to a company filing with the Securities and Exchange Commission.
August 15, 2000 |
Xerox Corp., the world's largest copier company, will pay ousted Chief Executive Richard Thoman $800,000 a year for life, according to a filing with the Securities and Exchange Commission. Xerox also will pay Thoman, who was fired in May after a little more than a year as CEO, a cash payment of $200,000 in lieu of a continuation of life-insurance benefits, and $375,000 as a prorated 2000 bonus in February of next year.
CALIFORNIA | LOCAL
June 25, 2000 |
A year of reform and reorganization at the Los Angeles Unified School District is significantly raising the salaries of top executives as well as increasing the number of people who can earn in the six-figure range, a Times analysis has found. At the same time, a gradual mushrooming of jobs in the 11 new subdistricts has apparently wiped out initial projections that the reorganization would trim hundreds of jobs.
June 23, 2000 |
The owner-operator of Knott's Berry Farm and Soak City U.S.A. in Buena Park said Thursday that it is changing its general partner fee and executive compensation plan to reduce cash payments and replace them with company stock and options. Cedar Fair LP, which owns and operates five amusement parks and four water parks nationwide, said it is seeking to eliminate fees paid to general partners retroactive to Jan. 1. The publicly traded partnership will make an $8.
May 16, 2000 |
Sunbeam Corp., the largest U.S. maker of small household appliances, said it gave Chairman and Chief Executive Jerry Levin an option to purchase 3 million shares of the unprofitable company at $4.125 each for the next 10 years as part of a new pay agreement. The grant, made Jan. 3, wasn't valued, and is worthless at Sunbeam's current prices. Sunbeam also said it cut Levin's pay last year 66% to $3.5 million from his initial year, when he also got a big option grant.
April 29, 2000 |
Toy icon Barbie once complained that "math class is tough," but her former boss is proving adept with a calculator. Troubled toy maker Mattel Inc. disclosed Friday that it paid former Chief Executive Jill Barad a severance package exceeding $40 million. The payout, disclosed in the company's annual proxy statement filed Friday with the Securities and Exchange Commission, comes as the El Segundo-based firm is bleeding red ink and its stock price hovers near historical lows.