Whirlpool Corp. CEO Jeff Fettig received a compensation of$12.94 million last year, the Associated Press reports.
Fettig’s pay reflects a 36-percent increase over that of2006, when he received $9.54 million. Last year, Fettig, also chairman of Whirlpool,led the company to a 48-percent profit increase despite higher energy andmaterials costs. He also earned a salary of $1.8 million, a performance-basedcash bonus of $6.96 million, and received $138,226 in other compensation,including $95,429 for personal use of company aircraft, according the AP.
Additionally, Fettig’s restricted stock awards and options were estimated atabout $4.66 million when issued in February of last year.
Meanwhile, General Electric CEO Jeff Immelt’s pay jumped by 9.7 percent in 2007 to a total of about $19.6 million in 2007, reports Bloomberg.
According to a proxy statement filed with the Securities andExchange Commission, Immelt’s pay last year included a salary of $3.3 million,$5.8 million in bonus and $396,267 in other compensation, as well as otherplan-based awards valued at about $4.7 million.
In 2006, Reuters reports, he received $8.8 million insalary, bonus and other pay, plus $6.3 million in plan-based awards.