AKRON, OHIO (Sept. 13, 11 a.m. ET) — At Aurora, Ontario-based Magna International Inc., founder and controlling shareholder Frank Stronach, along with Stronach Trust, gave up voting control in 2010.
payout for 2010 (again, sans Magna). Kramer's base salary was $800,000 for 2010, a year in which he declined a salary increase, according to Griffon's proxy.
Focused on growth by acquisition, Griffon's compensation committee determined at year-end 2010 that Kramer was eligible for a bonus of $3 million because of EBITDA generated by Griffon operations, a bonus of $3 million for its working capital position at the end of 2010, and a bonus of $2 million because it completed its acquisition of Ames True Temper. But because of a performance bonus plan Griffon put in place in 2006, Kramer could not be paid more than $5 million.
Tupperware Brands Corp. CEO Rick Goings had a total package of $7.8 million, including $2.7 million in NEIP payouts. Tupperware disclosed in its proxy that it hired a firm in 2010 to evaluate executive compensation trends; review compensation regulations and relevant accounting pronouncements; and review management's recommendations regarding compensation and plan design.
Total compensation packages for Tupperware's CEO and chief operating officer are targeted to approximate the 75th and 60th percentile of the market, respectively.