Originally published Friday, April 23, 2010 at 3:40 PM
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Supervalu CEO's 2010 pay package valued at $10.8M
An Associated Press calculation shows Supervalu Inc. gave CEO and President Craig Herkert compensation valued at $10.8 million in his first year at the company.
The Associated Press
An Associated Press calculation shows Supervalu Inc. gave CEO and President Craig Herkert compensation valued at $10.8 million in his first year at the company.
The grocery chain appointed the former Wal-Mart Stores Inc. executive as its leader in May. He replaced Jeff Noddle, who had been CEO since 2001.
Herkert received a salary of $653,846, a performance-based bonus of $398,183 and stock options and restricted stock worth nearly $8.9 million.
The AP formula, based on figures drawn from a filing by the company Friday with the Securities and Exchange Commission, is designed to isolate the value the company's board placed on the executive's total compensation and may differ from the total reported by companies to the SEC.
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