Business

CEO Pay Watch Joel Waller, Christopher & Banks

May 15, 2013 at 1:06AM

Joel Waller (The Minnesota Star Tribune)

Christopher & Banks

Joel Waller, former president and CEO

Total compensation: $1,160,168 for the year ended Jan. 31, 2013

Salary: $419,231

Bonus: $150,000

Other compensation: $76,437

Value realized on vesting shares: $514,500

Total return to shareholders: 198.6 percent

Note: Waller, the former head of Wilsons the Leather Experts, joined Christopher & Banks in December 2011 as president. He became CEO on Feb. 17, 2012, when Larry Barenbaum resigned as CEO.

Waller served as interim CEO while the board searched for a new leader. On Nov. 26, 2012, the company named LuAnn Via as CEO and Waller remained as a consultant to the women's clothing retailer. When Waller moved up a chair, so did his salary. The company gave him a 25 percent increase in his base salary to $500,000 per year.

Barenbaum, a former board member, was named CEO in January 2011. As part of his compensation agreement he was awarded 1,350,000 stock options, 900,000 of those options were forfeited when he resigned and the remaining 450,000 shares expired on May 18, 2012, without being exercised. Barenbaum received $254,000 in severance payments.

Via signed a three-year contract that will pay her an annual salary of $800,000 per year. She also got a $200,000 signing bonus and $300,000 to compensate her for an annual cash award she would have received at her previous employer.

The company's stock price enjoyed a 198.6 percent return during the fiscal year ending Jan. 31. Shares have continued to rally and closed at $7.40 in Tuesday's trading.

Patrick Kennedy