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TMCNet:  BRIEF: CEO Paywatch: Kendall Powell, General Mills Corp. [Star Tribune (Minneapolis) :: ]

[August 11, 2014]

BRIEF: CEO Paywatch: Kendall Powell, General Mills Corp. [Star Tribune (Minneapolis) :: ]

(Star Tribune (Minneapolis, MN) Via Acquire Media NewsEdge) Aug. 12--CEO Pay Watch General Mills Inc.

Kendall Powell, Chairman and CEO Total compensation: $10,465,412 for the year ending May 31, 2014 Salary: $1,165,717 Bonus: $0 Non-equity incentive pay: $1,655,132 Other compensation: $193,976 Exercised stock options: $976,685 Value realized on vesting shares: $6,473,902 New stock options: 294,926 Total fiscal 2014 shareholder return: 20.5 percent Note: Powell took home slightly less than last year's $10.5 million. Powell's base salary rate increased 3 percent at the start of General Mills' fiscal year but his cash bonus for the year was down 24.1 percent as the company's fiscal 2014 performance was below the median for the consumer packaged goods peer group.


Powell was able to take home nearly as much as last year despite the lower cash bonus, because the value of his long-term equity awards increased thanks mainly to $6.5 million worth of previously issued restricted stock awards that vested during the year.

Last year, 92 percent of shareholders approved the company's say-on-pay vote.

Patrick Kennedy ___ (c)2014 the Star Tribune (Minneapolis) Visit the Star Tribune (Minneapolis) at www.startribune.com Distributed by MCT Information Services

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