Monday, January 26, 2009

Execs' salaries frozen

Salaries for the Lee execs at the top have been frozen. That means:
  • CEO Mary Junck: $850,000
  • CFO Carl Schmidt: $482,000
  • VP Greg Veon: $361,000
  • VP Kevin Mowbray: $335,000
  • VP of HR Vytenis Kuraitis: $268,000


Nick Kasoff said...

The CEO's pay represents nearly 5% of the entire market cap of the company. I honestly have no idea - is this high, low, or normal?

Anonymous said...

As an employee I must say I find their salaries offensive. Considering they over leveraged the organization and got us into this mess, they should be taking bigger pay cuts.

Anonymous said...

I agree with Anonymous @12:39 -- and that doesn't add in bonuses (which they said they'd suspend this year) and other compensation. Forbes says Junck's total compensation was $3,791,282. That doesn't seem right. And I see my publisher on the list (he's also a VP); total compensation was more than what's listed there. Pay freeze is nice, but they'd better be taking big pay cuts before they ask me to do the same.

Anonymous said...

Look on the bright side: All of those stock options they've given themselves over the years are pretty much worthless now.

Anonymous said...

Click on the Reuter's blog - the pay was effective Oct. 1, 2007 - which looks like maybe they gave them a raise retroactively?

That would happen occasionally at the Lee shop where I used to work, so it's not unprecedented.