New York -- The CEO of Sears Holdings Corp., Louis D'Ambrosio, received a compensation package in 2011 whose value was put at $9.9 million, according to a proxy statement filed with the Securities and Exchange Commission.
D'Ambrosio joined the company in February 2011. He received a base salary of $931,000. His stock awards totaled $8 million and his bonus was $150,000.
D'Ambrosio got another $852,037 in perks, including $803,856 for charter and commercial airfare and ground transportation to commute from greater Philadelphia, where he lives, to Sears’ headquarters in Hoffman Estates, Ill., according to the Associated Press. He received $29,985 for temporary housing in Hoffman Estates.
Sears paid part of the income taxes due on those benefits.
For its fiscal year that ended Jan. 28, Sears had a net loss of $3.14 billion on revenue of $41.5 billion.