Executive Compensation: Vendors / Retailers

By Staff -- Home Textiles Today, 10/17/2005 12:00:00 AM

Vendor salaries
Top and bottom 5 vendors by 2004 salary

Vendor cash bonuses
Top and bottom vendors by 2004 bonus
Only slightly more than half, nine of the 17 executives in this year's survey, took home a cash bonus, roughly the same percentage as in the prior two years. As he did last year, Jeffrey S. Lorberbaum, Mohawk CEO, took home the largest bonus, $720,000, easily surpassing his 2004 bonus of $510,725. Holding down second place, for a second straight year, was Robert G. Culp of Culp Industries, with a cash bonus of $353,600.

Vendor stock options exercised
2004 stock options exercised
With stock in public home textiles suppliers at depressed and record-low levels, stock options were a virtually worthless perk to most executives at public home textiles companies. As they had in 2003, and in 2002 before that, most executives found their options 'under water,' meaning it would cost them more to exercise the option than to buy the stock on the open market. Indeed, only one executive last year found it worth his while to cash out his options, William B. Kilbride, president of Mohawk Home, who took home $1.5 million. In the past, Kilbride has chosen not to bank the proceeds, but instead used the money to make charitable contributions.

Retail salaries
Top and bottom 5 retailers by 2004 salary*

Retail cash bonuses
Top and bottom 5 retailers by 2004 bonus

Retail stock options exercised
Top and bottom 5 retailers by 2004 stock options exercised
Top honors in the category, $64.9 million, went to Allen Questrom, who stepped down at J.C. Penney after engineering a successful turnaround at the retailer. Coming in second, with somewhat more than half of Questrom's take, was Arlene Meier at Kohl's, with her $36 million in options exercised. Robert J. Ulrich at Target, a perennial big winner, took home $31.7 million, while another Target chief, Gregg W. Steinhafel, pocketed $10.3 million in options.