More Idaho CEO paychecks go down than up | Local News | Idaho ...
IDAHO’S BEST-PAID CEOS
#1 $9.8 million: Steve Appleton, chairman and CEO of Micron Technology. Compensation up 20% over 2009.
#2 $3.2 million: Dennis Wheeler, CEO, Coeur d’Alene Mines Corp. 25% increase turned on goals exceeded.
#3 $2.5 million: Phillips S. Baker Jr., CEO, Hecla Mining Co. After 2009 successes, compensation down 23%.
#4 $2.25 million: Alexander Toeldte, CEO, Boise Inc. Compensation at paper manufacturer fell 11% from previous year.
#5 $2.1 million: J. LaMont Keen, CEO, IdaCorp and Idaho Power Co. A 3% increase in base salary for performance.
CEO pay rose nationwide last year, but only some of Idaho’s chief executives kept up with the trend.
Average pay was up 5 percent in 2010 for CEOs at Idaho’s top public companies. The overall gain of $1 million in 2010 was due mostly to Steve Appleton’s bonus and nonequity compensation. Micron Technology Inc.’s chairman and CEO broke out of the pack, landing a 20 percent increase and nudging up against $10 million.
Len Williams, CEO of Home Federal — Idaho’s ninth-biggest public company by revenue — saw the steepest drop in overall pay: 76 percent, or $1.6 million. Top company executives recommended to the board that they not take any stock awards because of the difficult economic times. Board members agreed and did not provide any in 2010 because the company reported a loss of $4.1 million, much of it from money it was required to set aside to protect against loan defaults.
Hecla CEO Phillips Baker saw the next-biggest decrease, of $734,499. But unlike Williams, Baker’s decrease was due to performance and payout targets set by the board of directors after the company’s record year in 2009.
Baker had been the big winner in 2009, garnering a bonus and cash awards of $1.8 million after significantly boosting cash flow, revenues and production for the company.
In that year, overall CEO compensation was up an average of 4.43 percent, or about $913,000, based on figures from the latest proxies with compensation tables updated according to changes made by the Securities and Exchange Commission.
In comparison, Idaho’s median household income from 2008 to 2009, the latest figures available, fell 5 percent to $44,926 from $47,248, according to the U.S. Census Bureau.
Average CEO base salaries were up 5 percent in 2010, compared to a decline of 1.7 percent in 2009.
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