Walmart CEO’s Pay

Posted by Admin | April 19th, 2010

Walmart’s CEO, Mike Duke, is the leader of one of the largest and most successful companies in the world. No pressure, right? The good news is, he gets compensated accordingly. Although his salary plummeted by 34% this year, he still made out alright.

Wal-Mart Stores Inc. CEO Mike Duke received compensation worth $19.2 million in fiscal 2010, according to an Associated Press calculation. That’s down 34 percent from 2009, when he got a hefty stock award in connection with his promotion to CEO.

Duke, 60, became CEO on Feb. 1, 2009, the first day of the company’s fiscal 2010, succeeding Lee Scott. In fiscal 2010, he received a base salary of $1.2 million and a performance-based cash bonus of $4.8 million, according to a filing it made Monday with the Securities and Exchange Commission.

He received $193,808 in above-market interest credited on deferred compensation under Wal-Mart Stores’ non-qualified deferred compensation plan.

The bulk of his pay came in the form of stock valued at $12.7 million at the time it was granted.

He also received other compensation worth $318,218, including $162,423 for the company’s contribution to a supplemental executive retirement plan, $85,637 for aircraft use and $45,403 for deferred compensation plan incentive payments.

Walmart has made impressive gains in market share during the recession, but like any business it has not done as well as it would have otherwise. Still, you have to appreciate the sort of innovation that allows a company to out-compete its peers during a downturn.