By  on July 26, 2007

Hefty stock and option awards boosted the pay packages of major retail executives last year, with total compensation of the top 10 reaching more than $198.7 million in 2006.

With fewer qualified candidates vying for top executive positions, companies have been forced to raise compensation in order to remain competitive, said Elaine Hughes, president of executive search firm E.A. Hughes & Co.

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