Pepsico CEO Gets paid 14.7 M in 2007, doubled from 2006

Associated PressPepsiCo CEO Gets Paid $14.7M in 2007

By VINNEE TONG 03.24.08, 3:44 PM


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NEW YORK -
PepsiCo's Indra Nooyi received compensation valued at $14.7 million in 2007, her first full year as chief executive of the world's second-biggest soft drink maker, the company reported in a regulatory filing Monday.

Did your pay double last year? I doubt it, talk about inverting the pyramid. She is lining her pockets.

That more than doubled the $6.3 million she was paid in 2006, when she served as chief financial officer for most of that year before taking over the top spot on Oct. 1, 2006. Her predecessor, Steven S. Reinemund, earned a total pay package of $17.5 million in 2006.
The bulk of Nooyi's 2007 pay was stock and options worth roughly $9.83 million on the day they were granted. She also earned $1.3 million in salary, $3.2 million in performance-based bonuses and $404,071 in other compensation, a category that includes executive perks like flying on the company jet.
In Nooyi's case, Purchase-based PepsiCo (nyse: PEP - news - people ) spent $57,928 on her personal use of the company aircraft. She was responsible for paying the taxes on those flight expenses. She also incurred $8,238 in expenses for what the company called ground transportation, $17,639 for car expenses, $6,750 for 401(k) matching contributions and $311,856 for accrued dividends.
PepsiCo Inc. owns brands such as Mountain Dew, Gatorade, Tropicana and Quaker as well as the Frito-Lay snacks business, which sells Doritos, Cheetos and Sun Chips. The company has bought a number of smaller companies to expand its overseas sales and diversify its product portfolio into healthier offerings.
In Nooyi's first full year in charge, the company's stock price jumped about 21.3 percent. And last month's Fortune magazine featured Nooyi on the cover, with the question, "What makes Pepsi great?"
The company's second-highest paid executive is PepsiCo International CEO Mike White, who got a compensation package worth $7.1 million in 2007. Of that, $3.08 million was stock and options. White had been Nooyi's rival for the CEO job.
Information on Nooyi's and White's pay was disclosed in the company's proxy materials, filed for shareholder consideration ahead of the company's May 7 annual meeting at Frito-Lay headquarters in Plano, Texas.