Saturday, May 14, 2005
Circuit City CEO's Pay Declines
Schoonover made about $5.6 million in total compensation in fiscal 2005 ended Feb. 28, thanks to options valued at $2.9 million, restricted stock worth $1.2 million and a big bonus, according to a proxy statement filed with the Securities and Exchange Commission.http://www.blogger.com/img/gl.link.gif
...A review of McCollough's performance by a compensation committee of outside directors also found he "was responsible for leading the company through substantial changes in the business, which included cost-cutting initiatives, divestiture of the company's finance operation and hiring of key management team members."
...The committee also said it approved long-term incentive awards, pay raises and promotions in conjunction with the retailer's efforts to attract executive talent to Circuit City, which has lost market share to Best Buy.
From Forbes 5/13/05
...A review of McCollough's performance by a compensation committee of outside directors also found he "was responsible for leading the company through substantial changes in the business, which included cost-cutting initiatives, divestiture of the company's finance operation and hiring of key management team members."
...The committee also said it approved long-term incentive awards, pay raises and promotions in conjunction with the retailer's efforts to attract executive talent to Circuit City, which has lost market share to Best Buy.
From Forbes 5/13/05
# posted by Lynn Wegley @ 8:58 PM 
