Bunge CEO receives $10.4 million
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- April
- 3
Total compensation rose 44 percent last year for Alberto Weisser, the chief executive officer of Bunge Ltd., the White Plains agri-business giant that benefited from a worldwide boom in agricultural commodities.
Weisser’s compensation of $10.4 million in 2007 was up from $7.2 million the previous year, according to a company filing with the Securities and Exchange Commission.
Bunge, which processes oilseeds and sells fertilizer, margarine and other products, capitalized on the commodities boom to report strong results in 2007. For the year, profits rose 43 percent to $738 million and sales soared 71 percent to $44.8 billion.
Agricultural prices have been rising as developing countries modernize and add more meat and grains to diets. Bunge’s stock, which surged 61 percent in 2007, joined other agricultural stocks in having excellent years despite concerns about a slowing U.S. economy and housing market.
Weisser’s compensation package for 2007 included the following:
•Salary of $1.2 million, unchanged from 2006.
•Stock awards of nearly $4.08 million, up from $2.56 million in 2006.
•Options awards of $1.66 million , up from $1.38 million in 2006.
•Incentive plan compensation of $3.36 million, up from $1.15 million in 2006.
This entry was posted
on Thursday, April 3rd, 2008 at 12:02 pm by Jay Loomis.
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