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Tyson foods gives details of senior executives' pay.

Tyson Foods Inc. paid two chief executives during the meat processor's fiscal 2009.

Richard Bond was ousted as president and CEO in January and Leland Tollett, a former CEO, came back on an interim basis until the end of the fiscal year, when he was replaced by Donnie Smith in November.

Before he departed, Bond was paid a salary of $932,455, of which $592,498 came from an agreement in effect before his resignation. Bond also departed with $3.3 million in stock awards, $993,235 in option awards, $163,323 in deferred compensation earnings and another $455,419 in other compensation for a total of $5,832,027.

Despite the short period before he left, his total compensation was only $2 million short of the $7.86 million he earned in fiscal 2008.

Tollett, for his limited time at the helm, received a salary of $477,652. Other compensation of $55,753 raised his total to $533,459.

Smith, the new president and CEO, was senior group vice president, poultry and prepared foods during the reporting period and actually took home less than he did the year before. In fiscal 2009, he had total compensation of $862,939, down from $1.01 million in fiscal 2008. His salary was increased to $542,308 from $445,154, but his stock awards dropped to $59,665 from $251,347.

James Lochner, who was senior group vice president, fresh meats last year and in November became the new chief operating officer, had total compensation of $1.97 million, up from $1.65 million the year before. His base salary was $612,692, which was boosted by $322,897 in stock awards, $243,106 in option awards, $161,618 in deferred compensation and other compensation of $626,741.

Dennis Leatherby, executive vice president and chief financial officer, had a salary of $467,308 and total compensation of $927,066.

Richard Greubel, group vice president and international president, also had a salary of $467,308. His total compensation was $946,027.

The company set its annual shareholders meeting for Feb. 5, 2010, at the Holiday Inn Northwest Arkansas Convention Center in Springdale.

Stockholders will vote on nine nominees for the board of directors and to reapprove the annual incentive plan for senior executives.
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Title Annotation:Public Company Reports
Publication:Arkansas Business
Date:Dec 28, 2009
Words:380
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