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Maytag Corp. paid its top executive a salary of U.S. $800, 000 and a bonus of the same amount in 2002, his first full year with the appliance maker, according to a regulatory filing Friday.
Ralph F. Hake, who became chairman and CEO of Maytag in June 2001, was paid a salary of $409,821 and a bonus of $300,000 for those 6 months of employment, the Securities and Exchange Commission filing said.
According to the proxy, Mr. Hake wasn't granted any stock options in 2002, compared with 450,000 received in 2001. He received a long-term incentive plan payout of $103,156 in 2002, versus none the year before, and "all other compensation" of $8,533 in 2002, compared with $4,897 in 2001. The compensation included premiums paid for life insurance and corporate contributions to Mr. Hake's 401(k) retirement plan, the filing said. (Dow Jones)
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