6 Million pounds reward for Paul Polman after an “Exception Year” for Unilever in 2012- UNA, PG
Northern, WI 03/10/2013 (avauncer) –Anglo-Dutch consumer goods multinational Unilever N.V.(AMS:UNA) continues to witness strong sales and earnings growth, despite the tough economic climate. The Company, which has outpaced its arch rival Procter & Gamble Co. (NYSE:PG) said its CEO Paul Polman’s base salary will increase 3.6 percent to 1.01 million pounds in 2013.
Polman earned 6.03 million pounds ($9 million) in 2012 which also includes 1.95 million pound bonus. Polman joined Unilever in 2009.
On the other hand, CFO Jean-Marc Huet, who received a 5 percent raise to 714,000 pounds in July 2012, “won’t get a raise this year,” Unilever said in its annual report. He got 1.05 million pounds bonus.
“Taking into account performance against targets, the quality of results and individual contribution, the Company decided that the CEO should be awarded a bonus of 200 per cent of base salary in respect of 2012; with the CFO being awarded a bonus of 147 percent of base salary.”
“The CEO had an exceptional year leading the business to deliver outstanding financial performance, strong returns to shareholders and excellent progress towards achieving a number of the goals set under the Unilever Sustainable Living Plan (USLP),” the Company added in its report. Similarly, the CFO had a “strong year.”
However, Unilever said there will be no change to the Executive Directors’ annual bonus opportunities for 2013.
Shares of Unilever N.V. (AMS:UNA) were up by 1.30% to close at €31.25
Shares of Procter & Gamble Co. (NYSE:PG) were up by 0.36% to close at $77.18