JC Penny CEO 2012 pay package drops 97 percent
The CEO of struggling department store J.C. Penney saw his 2012 compensation package plummet nearly 97 percent to about $1.9 million without a sizeable stock award he got last year and no bonuses.
Join the discussion below, or Read more at The Miami Herald.
#1 Apr 2, 2013
Unbelievable. As if the executives don't steal enough (commuting expenses and other perks), they received incentive pay too. Interesting, since they seem to be the only ones. All JCPenney Home Office "professional" employees have incentive pay as part of their overall compensation package. The target is tied to meeting or exceeding certain milestones (sales and operating profit). Neither was achieved, surprise surprise. But these yahoos who are responsible for the catastrophic reductions to both these factors receive part of their incentive pay. Unbelievable. I bet every other JCPenney Associate would love to have theirs too, but what did the masses receive...... you guessed it, ZERO.
Hey Ron, Kramer, Fisher, Walker, and Hannah - Where's mine?
#2 Apr 3, 2013
The executives should have had 100% cuts, they failed miserably. In fact, they should all be fired and replaced.
#3 Apr 3, 2013
Ellen may hire him to be her spokesperson.
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