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Business News -> Nooyi's pay package at Pepsi: over $14 mn.


Nooyi's pay package at Pepsi: over $14 mn
Indo-Asian News Service, New York, March 25, 2008 (IANS)

Indra NooyiIndra Nooyi, the India-born chief executive of PepsiCo, received $14.74 million in compensation in 2007, her first full year as head of the world's second-largest soft drink maker. Her 2007 compensation value more than doubled the $6.3 million she was paid in 2006, when she served as Pepsi's chief financial officer for most of that year before taking over the top spot in October 2006.

According to the company's annual regulatory filing Monday, Nooyi's package makes her the highest paid executive in the company. Her package includes $1.3 million in salary, $3.2 million of non-equity incentive plan compensation, and nearly $400,000 in compensations such as executive perks including flying on the company jet. She was also granted stock and option awards worth $9.83 million as of the grant date in February 2007.

In Nooyi's first full year in charge, the company's stock price jumped 21%. The Fortune magazine recently published a cover story on her, in which she said she was not averse to a position in Washington later.

PepsiCo International CEO Mike White is the company's second-highest paid executive with a compensation package worth $7.1 million in 2007. White was Nooyi's rival for the CEO job. By contrast, Pepsi's rival Coca-Cola gave its chief executive, Neville Isdell, $21.65 million in compensation in 2007, a 3.6% increase from the previous year.

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