US: Tobacco Exec Sees Pay Package Jump 23 Per cent

Source from:  TheChronicleHerald.ca 03/29/2013

Philip Morris International Inc. is giving outgoing CEO Louis Camilleri a pay package valued at about $24.7 million for fiscal 2012, up more than 23 per cent from the previous year.
 
That's according to an Associated Press analysis of data that the overseas Marlboro cigarette maker filed with regulators.
 
Camilleri's salary was $1.75million and he received a $7.5 million performance-based bonus. The value of his stock awards increased 65 per cent to $15 million.
 
Last year Philip Morris International's profit grew 2.4 per cent to $8.8 billion. Revenue excluding excise taxes rose about 1 per cent to $31.4 billion. Shipments rose more than 1 per cent to 927 billion cigarettes.
 
The AP's calculation counts salary, bonuses, perks and stock and options awarded to the executive during the year. Enditem