03.27.03
Colgate-Palmolive Co. said on Thursday its top executive got a $3.3 million bonus for 2002 after the consumer goods maker met its earnings targets and increased market share in hand soap, body wash, fabric softener and pet food. Colgate, whose products include Speed Stick deodorant, Irish Spring soap and Science Diet pet food, posted earnings of $2.19 per diluted share last year compared to $1.89 in 2001.
As a result the company gave its 64-year-old chairman and chief executive Reuben Mark a $3.3 million bonus, in line with the $3.5 million bonus he got the year before, according a proxy filing with the Securities and Exchange Commission. Mr. Mark's salary rose by $110,000 to $1.6 million last year. He also got restricted stock awards worth $5.7 million.
Mr. Mark was elected chief executive of the New York-based company in 1984 and has served as its chairman since 1986. He told analysts last month he had no immediate plans to retire.
As a result the company gave its 64-year-old chairman and chief executive Reuben Mark a $3.3 million bonus, in line with the $3.5 million bonus he got the year before, according a proxy filing with the Securities and Exchange Commission. Mr. Mark's salary rose by $110,000 to $1.6 million last year. He also got restricted stock awards worth $5.7 million.
Mr. Mark was elected chief executive of the New York-based company in 1984 and has served as its chairman since 1986. He told analysts last month he had no immediate plans to retire.