The salary of Jeff Harmening, the CEO of General Mills, is $1,332,980 annually. This figure represents the salary portion of his total yearly compensation.
Understanding CEO Compensation at General Mills
The total yearly compensation for Jeff Harmening stands at $16.06 million. This comprehensive package is structured with a relatively small portion as base salary, while the majority is performance-based, incentivizing long-term growth and shareholder value.
A breakdown of his compensation components reveals the following:
| Component | Amount/Percentage |
|---|---|
| Total Annual Compensation | $16.06 Million |
| Salary | $1,332,980 (8.3% of total) |
| Bonuses (including stock & options) | $14,727,020 (91.7% of total) |
This structure is typical for large corporations, where executive compensation is heavily weighted towards performance-based incentives like stock options and bonuses, aligning the CEO's financial interests with the company's success and stock performance.
Jeff Harmening's Tenure and Ownership Stake
Jeff Harmening was appointed as CEO of General Mills in June 2017, giving him a tenure of approximately 7.5 years. Beyond his compensation, he also holds a direct ownership stake in the company, possessing 0.12% of General Mills' shares. These shares are valued at $42.57 million, further demonstrating his vested interest in the company's financial health and market performance.
