Scott Edmonds’ compensation more than doubled in his final year as chairman and chief executive officer of Chico’s FAS Inc., and the entire increase and more than half his pay were attributable to his severance package.
Edmonds, who stepped down as ceo in January to be succeeded by David Dyer, former Tommy Hilfiger and Lands’ End chief, saw his total compensation rise to $8.7 million last year, up about 130 percent from $3.8 million in 2007. Of the 2008 total, $4.4 million was related to “accrued post-termination benefits.” In addition, his stock and option awards totaled $3.1 million, up from $2.7 million in the previous year, according to the company’s proxy filing with the Securities and Exchange Commission.
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