Heinz CEO's pay dropped to $14.4 million in 2012

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Associated Press

Posted on July 7, 2012 at 4:01 AM

Updated Saturday, Jul 7 at 4:01 AM

NEW YORK (AP) — H.J. Heinz Co., the world's biggest ketchup maker, says it gave its CEO a pay package worth $14.4 million in its fiscal 2012, down 8 percent from last year, according to an Associated Press analysis of a regulatory filing.

The drop in pay for William Johnson, who has been chief executive since 2000, was largely the result of lower performance-based bonus pay. The company's net income for the fiscal year ending April 29 declined 7 percent from the previous year.

The 63-year old Johnson, who also serves as chairman and president, received a salary $1.3 million, up 4 percent from the previous year. He got stock and options worth $4.1 million, compared with $4 million the previous year.

His bonus pay was $7.7 million, down 13 percent from $8.9 million.

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