CEO pay watch: General Mills' Sanger: $31M

The Associated Press
August 14, 2008 at 1:28AM
Steve Sanger
Steve Sanger (Stan Schmidt — ALL/The Minnesota Star Tribune)

Steve Sanger, chairman and CEO, General Mills Inc. Total compensation: $31,151,544 for the year ended May 25

Salary: $1,257,330

Non-equity incentive pay: $3,539,190

Value realized on vesting shares: $13,106,352

Exercised options: $12,777,971

Other compensation: $470,701

Ken Powell, CEO Total compensation: $4,040,238 for the year ended May 25

Salary: $843,333

Non-equity incentive pay: $1,674,900

Value realized on vesting shares: $422,833

Exercised options: $810,344

Other compensation: $288,828

Total return to shareholders: +4.3 percent

Notes: Total compensation for Sanger, who retired as CEO during the year, was up 35 percent from a year earlier. Powell succeeded Sanger as CEO on Sept. 24 and as chairman of the board at the end of the fiscal year in May. Sanger's vesting shares include a $10 million grant from the vesting of restricted stock units upon his retirement.

CASEY COMMON

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