Supervalu announced yesterday that its executives, including chairman and CEO Jeffrey Noddle, would not get performance bonuses for 2002 because the company did not meet profit targets.
Noddle, for example, got a $1.1 million bonus and $659,000 in restricted stock in 2001, but nothing for the most recent fiscal year.
Noddle, for example, got a $1.1 million bonus and $659,000 in restricted stock in 2001, but nothing for the most recent fiscal year.
- KC's View:
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Which seems appropriate, if a little harsh. After all, Noddle also seems to have kept Supervalu from being tarred with the brush of an SEC investigation, no mean task in today's environment.
Compare this, of course, to the situation at Kmart, where the CEO gets a $1 million bonus just for being in the top spot when the company emerges from bankruptcy today.
Oy.
