By  on April 14, 2010

William L. McComb, chief executive officer of Liz Claiborne Inc., took a more than 30 percent cut in compensation last year as he led the firm through a continuing reorganization in the midst of a severe economic downturn.

McComb’s total earnings came to $3.5 million, 30.7 percent below the prior-year level of $5 million. His salary remained at $1.3 million. Whereas in 2008 he received $3.4 million in stock and option awards, last year he received a $942,000 option award but, as with the other named executive officers covered in Claiborne’s definitive proxy statement, no stock awards.

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