FINANCE

CVS Caremark chief’s compensation leapt 44% last year

BY Katherine Boccaccio

New York — An SEC filing on Friday revealed that the total compensation for CVS Caremark Corp. CEO Larry Merlo jumped 44% last year to $20.3 million.

Merlo’s base salary rose slightly but the major increases came from stock and option awards and nonequity incentive-plan compensation.

Among the other senior executives, CFO David Denton saw his total 2012 remuneration rise 33% to $6.1 million, and president of CVS pharmacy Mark Cosby’s total pay dropped 39% to $5.9 million. (The prior-year period included a nearly $1.4 million bonus and higher stock and option awards.)

"Last year, CVS Caremark had an outstanding year, and continued to deliver strong financial results and enhanced returns to shareholders in a challenging economic environment, performing favorably against our peer group in several key areas," CVS spokeswoman Carolyn Castel said in a written statement.

keyboard_arrow_downCOMMENTS

Leave a Reply

S.Gacho says:
Mar-30-2013 01:28 am

It is also a need that you
It is also a need that you increase the salary of your employees. If your business is doing good well your employees deserves an increase. - Rich Von

S.Gacho says:
Mar-30-2013 01:28 am

It is also a need that you increase the salary of your employees. If your business is doing good well your employees deserves an increase. - Rich Von

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
OPERATIONS

Ahold names new CIO

BY Katherine Boccaccio

Carlisle, Pa. — Ahold USA announced Friday it has appointed Paul Scorza as chief information officer for the company, effective April 1.

Scorza, a 30-year veteran of IBM, will oversee Ahold USA information management functions, with a focus on systems and business processes to improve efficiency, effectiveness, controls and operations.

The U.S. subsidiary of Netherlands-based Royal Ahold, operates the Stop & Shop, Giant-Carlisle and Giant-Landover supermarket banners and the Peapod online grocery service.

keyboard_arrow_downCOMMENTS

Leave a Reply

S.Gacho says:
Mar-30-2013 01:29 am

Sometimes, it really needs a
Sometimes, it really needs a good leader for the business to be successful. I think it really has something to do with the word of mouth. - Rich Von

S.Gacho says:
Mar-30-2013 01:29 am

Sometimes, it really needs a good leader for the business to be successful. I think it really has something to do with the word of mouth. - Rich Von

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
REAL ESTATE

Saks Off 5th to open in Chandler, Ariz.

BY Katherine Boccaccio

New York — Saks Fifth Avenue Off 5th will open its doors in Chandler, Ariz., on Thursday, April 4, 2013.

The new 28,000-sq.-ft. store is located in Phoenix Premium Outlets, which is opening to the public that day. The new outlet center, owned and operated by Simon Property Group, is part of Wild Horse Pass, within the Gila River Indian Community, which includes hotels, a spa, casino, golf, an equestrian center, fine dining and more.

keyboard_arrow_downCOMMENTS

Leave a Reply

S.Gacho says:
Mar-30-2013 01:30 am

Expansion will be best to
Expansion will be best to those places which you think your business will grow. You cannot just expand without careful planning. - Rich Von

S.Gacho says:
Mar-30-2013 01:30 am

Expansion will be best to those places which you think your business will grow. You cannot just expand without careful planning. - Rich Von

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...