Whirlpool Corp. Chief Executive Jeff M. Fettig's compensation was cut in half to US$6.1 million in fiscal 2008, according to an AP report, which cited a filing with the Securities and Exchange Commission. Fettig received a base salary of $1.3 million in 2008, which the report says is an increase from his $1.2 million base salary in fiscal 2007. But his performance-based cash bonus was lower in 2008, dropping to $420,000 from nearly $7 million in 2007.
Fettig's compensation also included $133,207 in perquisites, or "perks," including $83,283 for personal use of the company's plane, the report says, $16,100 in defined contribution plan contributions, and $33,824 in "other" perks. Those included discounts on Whirlpool products, financial planning services, home security, and other benefits.
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