10 million dollar bonus for Mondelez (ex-Kraft) CEO after less than 3 months on the job!
Mondelez CEO Irene Rosenfeld has been granted a USD 10 million ‘special equity award’ of stock in the new company, less than three months after Mondelez was ripped out of the former Kraft Foods Inc.
In a regulatory filing for December 19, 2012, the company said the ‘award’ was given “For her ability to have envisioned and executed numerous transformational initiatives – including the recent, highly successful spinoff of the company’s North American grocery business; for her foresight of the benefits of these transformational initiatives to shareholders; and for positioning Mondelez to deliver sustainable top-tier shareholder returns into the future.” Rosenfeld’s total compensation for 2011 totaled USD 22 million.
Outrageous executive compensation is not the only thread linking Mondelez to the former Kraft. The company continues the Kraft policy of violating the human rights of its employees, which are examined in detail here.