CEO Pay Watch General Mills Inc.
Ken Powell, chairman and CEO
Total compensation: $14,815,089 for the year ended May 31
Salary: $1,200,650
Non-equity incentive pay: $1,681,054
Other compensation: $147,780
Exercised stock options: $5,982,281
Value realized on vesting shares: $5,803,324
New stock options: 257,439
Total fiscal 2015 shareholder return: 5.5 percent
Note: CEO Ken Powell's $14.8 million in pay was a 41.6 percent increase over the previous year and was mostly fueled by $11.8 million worth of previously issued long-term equity awards that were exercised or vested during the year.
The global consumer foods group based in Golden Valley has announced several restructuring plans and about 2,500 job cuts over the past 36 months as General Mills and other consumer foods companies adjust to changing consumer tastes.
The company's corporate performance rating for fiscal 2015, which took into account sales, earnings and capital improvement factors, was below the median performance of its peers. As a result, annual bonuses and new long-term equity awards were less than targeted amounts for the year.
General Mills got rid of one executive perk in fiscal 2015 by eliminating personal aircraft use.
Patrick Kennedy
