Wendy's CEO Pay Valued at $6.7M in 2006


Mar 13, 2007

Regulatory filing shows Kerrii Anderson, who became CEO of a shrinking Wendy's International Inc. in November after six months as interim CEO, received compensation valued at $6.7 million last year.

Jack Schuessler, who retired abruptly weeks before a May 1 deadline to become eligible for a portion of his stock option awards, received compensation valued at $5 million.

Since Anderson took over, the nation's third largest hamburger chain completed the spinoff of the Tim Hortons coffee-and-doughnut chain, sold its money-losing Baja Fresh Mexican Grill chain and cut 355 corporate jobs. She had been executive vice president before her promotion, and served as chief financial officer for part of 2006.

Anderson takes home a base salary of $620,058, non-equity incentives are valued at $2 million, deferred compensation earnings of $6,846 and stock awards with an estimated value of $3.9 million.

Wendy's said it intentionally puts most executive compensation at risk as bonuses and stock awards so that pay is tied to the company's financial performance. Base salaries are based on a study of fast-food and fast-casual restaurant chains, including No. 1 hamburger chain McDonald's Corp., Ohio-based Bob Evans Farms Inc., KFC and Taco Bell parent Yum Brands Inc., and coffee giant Starbucks.

Source – AP