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Kraft gave CEO $15.7 million; 17 percent pay bump
http://hosted.ap.org/dynamic/stories/U/US_KRAFT_EXECUTIVE_COMPENSATION?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2012-03-26-18-37-31NEW YORK (AP) -- Kraft Foods Inc. gave its CEO a pay package worth $15.7 million in 2011, which represents a 17 percent raise from the previous year.
The compensation for Irene Rosenfeld included a salary of $1.5 million, stock and option awards worth $9.7 million and incentive-based compensation of $4.2 million.
All other compensation came to $276,000 and covered costs for use of the company aircraft, car expenses and retirement plan contributions.
The pay bump for Rosenfeld was largely the result of her incentive-based pay, which Kraft determines with a formula based on total returns to shareholders and growth in net revenue and operating earnings per share. Rosenfeld, 58, took over as CEO in 2006.
