government-trade
government-trade

VF Filing Outlines Executive Pay

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.

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.

load comments

ADD A COMMENT

Sign in using your Facebook or Twitter account, or simply type your comment below as a guest by entering your email and name. Your email address will not be shared. Please note that WWD reserves the right to remove profane, distasteful or otherwise inappropriate language.