RICHMOND, Va. (AP) — Marlboro maker Altria Group Inc.'s incoming CEO Martin J. Barrington received a pay package valued at $10.3 million for fiscal 2012.
That's according to an Associated Press analysis of a regulatory filing the owner of the nation's biggest cigarette maker, Philip Morris USA, made Thursday.
Barrington received a salary of $1.03 million and a performance-based bonus of $2.5 million. The value of his stock awards was $6.6 million, and he received other compensation worth $199,435.
Barrington took over as chairman and CEO last May after serving as vice chairman.
The Richmond-based company saw its profit grow 23 percent to $4.18 billion. Revenue excluding excise taxes rose 5 percent to $17.5 billion.
The AP's calculation counts salary, bonuses, perks and stock and options awarded to the executive during the year.
Deutsch: "I’m Just Feeling a Mojo" from Obama "I’ve Never Felt Before"..."It Feels Good!" | Greg Hengler
New Legislation Introduced to Stop DHS "Catch and Release" Policy For Dangerous Criminal Aliens | Katie Pavlich
The Wisdom of Bastiat, as Revealed by Great Moments in Federal, State, and Local Government | Daniel J. Mitchell