Mackey McDonald, who stepped down as VF Corp.’s chief executive officer effective Jan. 1, got a 24.1 percent boost in total compensation last year to $15.4 million, according to a Securities and Exchange Commission filing.
McDonald’s pay included a $1.2 million salary, stock and option awards valued at $9.8 million and a $2.1 million incentive, among other items. He is still chairman of the Greensboro, N.C.-based vendor, which he transformed from a staid category player into a lifestyle brand power during his 12-year tenure.
The compensation of new ceo Eric Wiseman, who was president and chief operating officer last year, shot up 29 percent in 2007 to $6 million, including a $775,000 salary, stock and option awards valued at $3.5 million and an incentive of $1.2 million.
Wiseman is charting an aggressive course for the company, home to Wrangler, The North Face and Seven For All Mankind, among other labels. He is aiming to boost revenues to $11 billion from $7 billion by 2012.
Among other top executives, Robert Shearer, senior vice president and chief financial officer, saw his total compensation slide 7.2 percent to $3.6 million. George Derhofer, who departed as senior vice president of global operations at the end of the year, left with a 22.2 percent rise in total compensation to $3.8 million.