The CEO of Atlanta children's clothing company Carter's received a 17 percent boost in his compensation, while the new leader of Sharpie and Calphalon maker Newell Rubbermaid got more than $14 million in stock incentives to lure him to the company.
Michael Casey, Carter's CEO and chairman of the board, made $6.01 million in total compensation in 2011, after bringing in $5.11 million the year before, according to a Thursday regulatory filing. His base salary was $760,000 for the year and he will increase to $850,000 in 2012. Carter's said in the filing that the salaries of Casey and other top employees would increase this year in order to make their pay more competitive.
The executives, including Casey, did not get raises in their base salaries in 2011. In its filing, Carter's said that decision was to help offset increased costs, including "significant inflation in product component costs such as raw cotton."
In an earlier filing, Sandy Springs consumer products company Newell Rubbermaid detailed the $18.8 million package that new president and CEO Michael Polk received since coming on board in June 2011.
Polk, who came to Newell Rubbermaid from Unilever, was guaranteed $2.56 million in bonuses to entice him to come to the company. As part of that bonus, he was guaranteed 90 percent of his incentive plan target -- other executives got less than half of their targets, as the result of Newell Rubbermaid's end-of-year results -- and an additional $1.1 million payment.
Polk received $14.3 million in restricted stock to make up for the Unilever stock he walked away from.
More than two thirds of Polk's compensation is performance-based. Going forward, he will receive an annual salary of $1.2 million and his total compensation is expected to be closer to $8 million.
Departing president and CEO Mark Ketchum received $7.1 million for the time he was employed in 2011. He made $11.9 million in 2010.
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