Wal-mart CEO pay declines
Wal-mart Stores chief executive Mike Duke earned $18.1 million last year, down from $18.7 million a year earlier, as the company’s operating income and sales growth fell short of goals.
Wal-mart said Google Inc. executive Marissa Mayer would stand for election to the Wal-mart board at the company’s annual shareholders meeting June 1. If elected, Mayer would become the 16th member of the board.
While the company’s huge Walmart U.S. retail operation finally reversed its prolonged sales slump last year, overall performance and results at both Walmart U.S. and the retailer’s international unit fell short of expectations.
Duke’s cash incentive payment for fiscal 2012, ended Jan. 31, fell to $2.88 million from $3.85 million a year earlier and $4.8 million in 2010. Duke earned 71 per cent of his target cash incentive payment for fiscal 2012.