03.29.01
Colgate-Palmolive Co. said it raised its chairman's combined salary and bonus by 6.7% last year as the company surpassed its earnings per share goal. Chairman and chief executive officer Reuben Mark's salary in 2000 was $1.34 million, up from $1.26 million in 1999 and $1.20 million in 1998, Colgate said in the annual proxy statement to shareholders.
His bonus in 2000, when most of Colgate's business units exceeded sales and profit goals, rose to $3.14 million from $2.93 million the year before. Colgate, in the filing on Wednesday with the Securities and Exchange Commission, said Mr. Mark also received $7.5 million in restricted stock awards as well as $278,879 in "other compensation,'' mainly from a matching supplemental savings and investment plan.
The company cited his "individual performance and contributions to the continuing success and increased value of the company,'' as one reason for the increase. Mr. Mark was elected CEO in May 1984 and chairman in May 1986. He joined Colgate in 1963.
His bonus in 2000, when most of Colgate's business units exceeded sales and profit goals, rose to $3.14 million from $2.93 million the year before. Colgate, in the filing on Wednesday with the Securities and Exchange Commission, said Mr. Mark also received $7.5 million in restricted stock awards as well as $278,879 in "other compensation,'' mainly from a matching supplemental savings and investment plan.
The company cited his "individual performance and contributions to the continuing success and increased value of the company,'' as one reason for the increase. Mr. Mark was elected CEO in May 1984 and chairman in May 1986. He joined Colgate in 1963.