Marc R. Bitzer, the Chairman and Chief Executive Officer of Whirlpool, received a total compensation of $12,514,070. This substantial figure encompasses various components, including his base salary, bonuses, stock awards, stock options, and other forms of compensation, reflecting the multifaceted structure of executive pay.
Understanding CEO Compensation at Whirlpool
Executive compensation packages like that of Whirlpool's CEO, Marc R. Bitzer, are typically designed to align the executive's interests with the company's long-term performance and shareholder value. They often consist of a mix of fixed pay (salary) and performance-based incentives (bonuses, stock options, and stock awards).
The breakdown of Marc R. Bitzer's compensation provides a clear picture of how his total earnings are structured:
| Compensation Component | Amount Received |
|---|---|
| Salary | $1,315,000 |
| Bonus | $841,600 |
| Stock Options | $3,299,969 |
| Stock Awards | $6,717,530 |
| Other Compensation | $339,971 |
| Total Compensation | $12,514,070 |
This detailed view highlights that a significant portion of the CEO's compensation is performance-linked, particularly through stock awards and options, which represent over 79% of his total earnings in this period. Such structures are common in major corporations, aiming to incentivize leadership to achieve strategic objectives and financial growth for the company. For more detailed executive compensation reports, you can often find information on financial data websites.
