Newell Rubbermaid CEO takes 38% cut

Newell Rubbermaid’s chief executive took a 38 percent cut in total compensation, the Sandy Springs-based company said in its proxy statement.

Mark D. Ketchum was paid $5.24 million in total compensation in 2008, down from the $8.4 million he received in 2007. Ketchum’s pay fell because of the global downturn, the company said in a regulatory filing.

The Atlanta Journal-Constitution calculates compensation based on an executive’s salary, bonus, non-equity incentive programs, above-market returns on pension plan, estimated value of stock and options granted in the year and all other compensation, such as club memberships and use of corporate aircraft.

— Péralte C. Paul