Executives see compensation jump
April 11, 2005 By Pulp & Paper Canada
It’s a good time to be a top executive of a paper company. International Paper made an announcement last week that …
It’s a good time to be a top executive of a paper company. International Paper made an announcement last week that it has increased the salaries of its top executives. Chairman and Chief Executive of the company John Faraci will see his base salary climb by 14%, to rest at just over $1.1 million. President Robert Amen isn’t being left in the cold either; he’s getting a 12% pay increase, and will bring home $809, 750 in 2005. CEO Christopher Lidell will see a 4% raise to his base pay.
Smurfit-Stone is also reevaluating the way it compensates its employees. The company paid its top executives $2.19 million last year, excluding options and stock. Not necessarily comparable to International Paper, but the figure nonetheless marks a 23% jump from 2003.
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