Redwood City, CA (PRWEB) August 09, 2013
Equilar, the leader in executive compensation and corporate governance data, released this week’s “Behind the Numbers” (http://www.equilar.com/knowledge-network/btn-videos.php) videos featuring leadership changes from the Aerospace and Personal Services industries.
Robert K. Ortberg was named CEO and President of Rockwell Collins effective 8/1/2013. Mr. Ortberg joined the company in 1987 and served as President since September 2012.
Mr. Ortberg’s new compensation package consists of the following:
- Annual base salary of $900,000, increased from $700,000.
- Target Bonus of 110% of his base salary, increased from 95%.
- Additional LTI grant worth $1.23 million paid in 50% stock options and 50% performance shares. The stock options vest in three equal amounts on the first three anniversaries of the grant date.
- Total contract value of approximately $3.12 million.
Former CEO, Clayton M. Jones, remains on the board as Chairman and as a consultant. He will receive $500,000 for his role as Chairman, of which $250,000 will be paid in restricted stock units and $250,000 in cash.
James R. Chambers was named CEO and President of Weight Watchers International effective 7/30/2013. Mr. Chambers previously served as President and COO of the company since 1/4/2013. Prior to joining Weight Watchers, Mr. Chambers served as President of U.S. Snacks and Confectionary at Kraft Foods.
Mr. Chambers’ new compensation details include:
- Annual base salary of $1 million.
- Performance-based cash bonus target equal to 100% of base salary.
- Additional allowance of up to $72,000 for cost-of-living adjustments and relocation to New York City.
- Initial incentive equity award increased to $2.25 million, subject to further increase commensurate to his new role.
- Total pay of at least $4.25 million.
Resigning CEO, David Kirchhoff, will receive a lump sum payment of $2 million, representing two times his current base salary.
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