CNI Survey: Arch '00 exec bonuses fall 45%

30 April 2001 21:40  [Source: ICIS news]

HOUSTON (CNI)--Arch Chemicals cut its 2000 executive bonus payout by 45%, giving top executive Michael Campbell a bonus only for his efforts in "strategic, non-financial objectives," CNI learned Monday from a review of company documents.

In awarding a $150 000 (Euro166 667) bonus to chairman, president and chief executive Michael Campbell, the Arch compensation committee cited the company's acquisition of Hickson International and noted that Campbell received a zero payout under the Arch annual incentive bonus plan, according to the Arch proxy report on file with the US Securities and Exchange Commission (SEC).

Arch reduced the total bonus payout to $459 448 for its five top executives - down from the $841 791 paid in 1999, according to a CNI review of the Arch filing.

Campbell's $150 000 bonus compares with a payment of $401 306 for 1999.

In January the Danbury, Connecticut-based water treatment and electronic chemicals maker reported that its 2000 operating profits declined 2%.

Here's a chart comparing the basic compensation of salary and bonuses for each of Arch's top executives in the last two years as compiled by CNI from the company's report to the SEC:

Executive and Title	Years	Salary	Bonus
Michael Campbell President and CEO	2000 1999	600 000 539 591	150 000 401 306
Louis Massimo CFO	2000 1999	300 000 268 754	60 000 122 721
Paul Craney VP - Treatment	2000 1999	235 008 209 167	99 448 109 546
Charles Shaver VP - Performance	2000 1999	225 000 134 875	100 000 125 000
Sarah O'Connor General Counsel	2000 1999	250 008 194 337	50 000 83 218

By: Gary Taylor
+1 713 525 2653

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly