Tougher disclosure rules on executive compensation required by the Securities and Exchange Commission haven't exactly made things clearer for investors and shareholders: Sometimes the amount of detail can be almost too much. In addition, the new rules mean comparisons with prior years aren't valid. As a result, the WWDList looked at total value of executive compensation packages for 2006, which can include stock option awards from previous years and a not-always-explained "other" classification. One thing is clear, though: Executives at retailers that performed well in 2006 were certainly well paid. Below, a look at the biggest packages. All figures have been rounded to the nearest tenth of a million.
1. ROBERT J. ULRICH, 63, CHAIRMAN AND CHIEF EXECUTIVE OFFICER, TARGET CORP. Total value of 2006 compensation package: $36.4 million Base salary: $1.7 million; Bonus: $3 million; Stock and option awards: $25.2 million; Other: $6.6 million What better executive to rank number one than Chief Executive magazine's "CEO of the Year"? J.P. Donlon, the magazine's editor in chief, said in a statement, "Over the past 20 years, Bob and his team reinvented the norms of the discount retail industry through breakaway creativity and design and an unparalleled dedication to customers." Shares of Target have been heavily traded lately following disclosure that Pershing Square Capital Management might take a stake in the discount chain, possibly to get the retailer to sell its profitable credit card business. In 2006, Ulrich took home a base salary of $1.7 million, a 10.7 percent change from last year, and the highest of the top 20 retail executive salaries.
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