Heinz CEO''s Pay Rose to $15.6 Million in Fiscal Year 2011

The Associated Press reports that H.J. Heinz Co. CEO William Johnson saw the value of his pay package increase 5 percent to nearly $15.6 million in the most recent fiscal year. Heinz gave Johnson a package worth $14.9 million in the 2010 fiscal year. Johnson''s salary, stock options and awards were nearly unchanged from 2010, according to a document Heinz filed Friday with the Securities and Exchange Commission July 1. His salary remained at $1.25 million. The value of his stock and option awards rose $58 to remain at roughly $4 million. The company increased his combined annual incentive pay and long-term performance award by 4 percent to $8.9 million. His other compensation, including perks such as life insurance, retirement savings contributions and personal use of the company aircraft, rose fastest — by 34 percent to $1.4 million. Heinz''s profit rose 14 percent in fiscal 2011 to $989.5 million, or $3.06 per share. Its revenue climbed 2 percent to $10.71 billion.