Some of Walmart Inc.'s top executives saw their compensation packages for fiscal 2020 drop slightly from the previous year, according to the company's annual proxy statement filed Thursday with the U.S. Securities and Exchange Commission.
Chief Executive Officer Doug McMillon earned $20.9 million in total compensation, down from $22.1 million a year ago. His financial package included a base salary of nearly $1.3 million, unchanged from the past two years, and $15.7 million in stock awards.
McMillon received just over $3.5 million in nonequity incentives, down nearly 31% from fiscal 2019.
The Arkansas Democrat-Gazette follows a formula developed by The Associated Press that reflects amounts identified in proxy statements that are actually paid to executives. The formula excludes change in pension value and deferred compensation earnings.
Walmart listed McMillon's compensation as $22.1 million. Using Walmart's figure, his compensation ratio was 983:1, meaning he was paid 983 times the median employee pay of $22,484. The disclosure is required by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Brett Biggs, the retailer's chief financial officer, earned $8.5 million; John Furner, who was promoted during the year to chief executive of Walmart U.S., earned $9.7 million; Judith McKenna, CEO of Walmart International, earned $10.5 million; and Kath McLay, who was promoted to CEO of Sam's Club, earned $13.5 million.
Suresh Kumar, who was hired last year as Walmart's global chief technology officer and chief development officer, earned $45.9 million, which included $43.6 million in stock awards.
Business on 04/24/2020