USA: Massive bonus for Kellogg’s CEO
Carlos M. Gutierrez, chairman and CEO of Kellogg Co, came away with a massive financial bonus of US$1.3m in 2001, representing 144% of his basic salary of US$887,500. This is up considerably from Gutierrez' 2000 bonus of US$127,500, 15.8% of a basic salary of US$806,300. The Battle Creek-based cereals giant yesterday [Tuesday] filed its annual shareholders proxy with the Securities and Exchange Commission (SEC). It showed that Gutierrez also gained long-term compensation in the form of stock options valued at about US$6.2m, US$382,500 in restricted stock and US$10,880 in other compensation.
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