Goodyear increases pay for board members

ERJ staff report (DS)

Akron, Ohio -- Goodyear has increased pay for its top board members according to an SEC filing. The document shows that top board members' salaries increased by an average 5.3 percent, but this masks significant increases in remuneration through bonuses and incentive schemes.

Darren R. Wells , Arthur de Bok and Pierre E. Cohade received increases in base salary of 13.3 percent, 7.0 percent and 11.8 percent, respectively. The company said their pay is below the industry median, so the received higher increases than the average.

Richard J. Kramer was elected as Chief Executive Officer and President effective April 13, 2010, at which time his base salary was increased from $750,000 to $1,000,000.

In terms of bonus, Kramer received $1,716,300; Wells received $681,000; de Bok received $703,720; and Cohade received 456,000. All these were above target.

This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.

SEC filing from Goodyear (search on Incentive)