Topic: Operations

— 2161 items —

Planning a move?
July 14, 2004—HB Fuller’s (FUL) Chairman and CEO, Albert Stroucken, 56, who joined the company in 1998, has inked a new contract, according to the company’s recent Q. Though the raise in base pay to $779,000 works out to a relatively modest increase since the last contract was signed six years ago, the bonus potential in the […]

Post-merger payouts
July 13, 2004—The top five executives at Exult (EXLT) stand to walk away with a nice little bonus once the $691 million acquisition by Hewitt & Associates (HEW) is completed. According to an SEC filing earlier today, Hewitt has signed agreements with Exult’s top five executives that will pay them as much as 2.5 times their annual […]

One year later…
June 24, 2004—Even though the Wall Street Journal noted that outgoing Coca-Cola (KO) executive Daniel Palumbo, 46, “didn’t live up to expectations” as chief marketing officer, he’s still likely to depart the company better off than when he arrived from Eastman Kodak (EK) a year ago. Under Palumbo’s employment contract, signed June 9, 2003, Palumbo was guaranteed […]

That’s a lot of lattes!
June 23, 2004—Starbucks (SBUX) filed an amended K earlier today for the fiscal year that ended last September just because it had underestimated the moving and relocation expenses for two of its executive hires. The expenses for former Pathmark executive James Donald — was only off by about $23,000. But the moving and relocation expenses for Dave […]

Brothers in arms…
June 21, 2004—When Albert Cozzi and his brother, Frank, were ousted by Metal Management’s (MTLM) board back in January, an article in American Metal Marketnoted they were escorted out of the company’s Chicago offices by security guards. That’s not the type of treatment Albert Cozzi, who had been CEO and a board member of the company that […]

Flying high…
June 17, 2004—When travel industry technology firm Worldspan Technologies was acquired last year in a $901.5 million deal, several senior executives cleaned up and continue to do well as well-paid consultants, according to Worldspan’s registration statement with the SEC. As a group, Worldspan’s five top executives received $15.85 million under individual change-in-control agreements. Former CEO Paul Blackney […]

Here’s your hat…
June 16, 2004—Something seems a bit fishy about Chairman and CEO Gary Mulloy’s speedy departure from Advo (AD), which the company announced on Monday. For one, he was just re-elected to the board in January. For another, his employment agreement didn’t expire until the end of the year. And the severance agreement, which will provide Mulloy, 58, […]

Out with the old, in with the new…
June 11, 2004—Abercrombie & Fitch’s (ANF) Q filed yesterday had both the retirement agreement for Seth Johnson, who officially steps down from the retailer’s No. 2 post on June 18 as well as the employment agreement for the man who is replacing him, former Gucci (GUC) executive Robert Singer. Johnson, whose base salary was $817,788 last year, […]

Pulling back the curtain…
June 10, 2004—Normally, when a publicly traded company goes private, as Herbalife did two years ago when it was sold to WH Holdings Ltd, a Cayman Islands-based holding company, the ability to peak behind the curtain ends pretty quickly. But WH is now looking to recapitalize, so it filed some numbers on Herbalife with the SEC recently, […]

Garmentos duking it out…
June 9, 2004—The dispute between Polo Ralph Lauren Corp. (RN) and Jones Apparel Group (MAXS) over licensing agreements for Jones’ popular Lauren by Ralph Lauren line continues to drag on, according to Polo’s most recent 10-K and the stakes for both companies are getting higher. Last June, Jones sued Polo for $550 million after the company cancelled […]