Campbell Soup CEO's pay falls 12.5 pct in 2010

AP News
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Posted: Oct 08, 2010 12:06 PM
Campbell Soup CEO's pay falls 12.5 pct in 2010

An Associated Press calculation shows Campbell Soup Co.'s CEO received 12.5 percent less compensation this year than last.

Douglas Conant's received $10.1 million in the fiscal year that ended Aug. 1, down from $11.59 million in fiscal 2009.

The world's largest soup maker announced late last month that Conant will step down in July after a decade as CEO. He was brought on to rebuild the company and stabilize soup sales, which have softened again recently as people switch to store brands to save money.

The AP's executive pay calculation is based on a regulatory filing. It aims to isolate the value the company's board placed on the CEO's total compensation package. The figure includes salary, bonus, incentives, perks and the estimated value of stock options and awards.