Tyson Foods’ execs get boost with bonuses
by Meat&Poultry Staff
SPRINGDALE, Ark. – Donnie Smith, Tyson Foods Inc. CEO, and James Lochner, COO, were both paid more than $8 million during the company’s 2010 fiscal year that ended Oct. 1, according to a filing with the Securities and Exchange Commission.
Smith's total compensation totaled approximately $8.85 million – compared to his salary when he was senior vice president, which was $1.17 million in fiscal 2009. During the 2010 fiscal year, Smith’s larger stock interest contributed an additional $3.9 million to his income in addition to a cash bonus of $3.76 million.
Lochner's total compensation was $8.2 million. He also realized an additional $128,000 by exercising stock options during the fiscal year. Lochner received a bonus identical to Smith's and $3 million in stock and option awards. His total compensation in fiscal 2009 was $1.46 million.
Leland Tollett, former CEO who was interim president and CEO before Smith was appointed, was paid a total of $5.9 million – including a $600,000 base salary and a bonus of $5.15 million.
Executive Vice President Dennis Leatherby’s total compensation was $2.55 million, compared to $738,642 in 2009.
Donnie King, the senior group vice president for poultry and prepared foods, and Noel White, the senior group vice president for fresh meats, received similar compensation packages topping $2.8 million.