Incoming Altria Group CEO made $10.3M in '12

AP News
Posted: Apr 04, 2013 11:05 AM

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.