Compensation for Tyson CEO Doubles
From Bloomberg News
Tyson Foods Inc. more than doubled the compensation for Chairman and Chief Executive John Tyson in fiscal 2003 to about $20.9 million as profit fell.
The increase mainly resulted from $16.9 million in restricted stock, six times more than Tyson received a year earlier. Tyson’s salary and bonus fell 22% to $3.49 million, the Springdale, Ark.-based company said in a Securities and Exchange Commission filing.
Shares given as compensation that can’t be sold immediately are considered restricted stock. Stock options weren’t counted.
The company’s net income in the fiscal year end Sept. 27 fell 12% to $337 million, or 96 cents a share, from $383 million, or $1.08, a year earlier.
Tyson shares gained 4 cents to $13.24 on the NYSE.
From Bloomberg News
