Mondelez Gives CEO $10M Award
NEW YORK (AP) — The company that makes Oreo cookies is sweetening the pay for its CEO with a special stock award valued at $10 million.
Mondelez Inc. says in a regulatory filing that the reward recognizes Irene Rosenfeld for "top-tier performance," including the recent "highly successful" spinoff of its Kraft Foods grocery business.
Mondelez, which also makes Cadbury chocolates and Trident gum, says the pay also is intended to give her incentive to continue delivering strong results. It includes restricted stock that will vest after three years and restricted stock based on the company's performance.
Rosenfeld, who took over as CEO in 2006, received a pay package worth $15.7 million as CEO of Kraft Foods Inc. last year, according to an Associated Press calculation.
Mondelez is based in Deerfield Park, Ill.