The compensation of the CEO of Tyson Foods Inc. fell 23 percent during the 2011 fiscal year compared to the year before.
An analysis of a regulatory document filed Thursday shows that the value of CEO Donnie Smith's salary, options and other compensation was $6,671,224. That's down from $8,706,504 the year before.
Tyson Foods is the biggest U.S. meat producer. The company's net income fell during the year as rising grain and feed costs hurt profit margins. Tyson was able to raise prices for beef, chicken and pork. But the company could not raise chicken prices enough to offset rising costs.
Smith has made cost-cutting a major focus as CEO.
The AP's calculation counts salary, bonuses, perks, stock and options awarded to the executive during the year.