Kraft boss Irene Rosenfeld in 41% pay hike
The US food giant boss behind the controversial hostile takeover of Cadbury received a 41 per cent hike in pay and bonuses last year, it emerged today.
Kraft chairman and chief executive Irene Rosenfeld saw her pay package jump to $26.3m (£17.4m) in 2009, compared to total compensation of $18.7m (£12.4m) in 2008, the company said in a filing with the US Securities and Exchange Commission.
The firm said Ms Rosenfeld's leadership in pushing through the Cadbury takeover had been judged "exceptional" and had transformed Kraft's business.
Ms Rosenfeld's salary was virtually frozen at $1.5m (£993,000), but she also received stock awards of $7.8m (£5m), annual incentive awards of around four million dollars (£2.7m), about $1.9m (£1.3m) in option awards and $10.6m (£7m) in a non-equity incentive plan.
News of the increased payout comes a month after Kraft caused outrage by announcing job cuts and closures following up its £11.5bn Cadbury takeover.
Last month Kraft said that Cadbury's Somerdale factory near Bath would close despite earlier pledges to keep it open.
Hundreds of jobs are now set to go at the site after the US firm said it was "unrealistic" to reverse Cadbury's plans to close it.
It said Cadbury had already spent £100m on building new facilities in Poland and most production would be transferred by the middle of this year.
And this month Kraft further drew the fire of UK unions when it announced its first job cuts within weeks of the takeover.
Up to 150 jobs are threatened at Cadbury's offices in Uxbridge, west London, and Bournville in Birmingham as Kraft looks to cut out duplications in its newly enlarged operations.
International Women's Day 2014: The shocking statistics that show why it is still so important
Feminist quotes to inspire you on the International Women's Day
Oscar Pistorius trial: Reeva Steenkamp murder case turns into a bizarre safari following the tracks of a wounded lion
Belle Knox: How the porn star student from Duke University became bigger than Justin Bieber
International Women's Day 2014: Mothers and daughters describe their hopes and dreams in touching photographs
Apple's Tim Cook: Business isn’t just about making profit
Thousands of young people forced to go without food after benefits wrongly stopped under 'draconian' new sanctions regime
Ukraine crisis: New navy chief 'defects' and surrenders Crimean HQ as Putin claims ultranationalists forced intervention
Britain's top vet sparks controversy with call for ban on slashing animals' throats in 'ritual' slaughters for halal and kosher meat products
Ukraine crisis: Russia dismisses '3am ultimatum' as 'total nonsense'
If you're horrified by a flame-roasted dog, you should be shocked at a hog roast
- 1 International Women's Day 2014: The shocking statistics that show why it is still so important
- 2 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 3 Orgasm machine to deliver climax at the push of a button
- 4 Too upsetting? Academy members voted for Oscar-winning 12 Years A Slave 'without watching it'
- 5 Liam Neeson turned down James Bond role because Natasha Richardson said she wouldn't marry him if he took it
iJobs Money & Business
£12000 per annum: Inspiring Interns: The company works with Tier 1 FTSE 100 Ba...
£32000 - £36000 per annum + generous benefits: Pro-Recruitment Group: * TAX * ...
£37000 - £40000 per annum + £20000 benefits package: Pro-Recruitment Group: **...
£30000 - £35000 per annum + generous benefits: Pro-Recruitment Group: Mixed Ta...