wiredinUSA May 2012

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wiredInUSA - May 2012 12
Greg Kenny, CEO of General Cable, had his
compensation package increased to $5 million in
2011, up 31 percent from $3.8 million in 2010, stated the
company’s recent proxy statement filed with the
Securities and Exchange Commission.
Every component of Kenny’s compensation increased
except his bonus under General Cable’s annual
incentive plan, which fell 34 percent to $568,400.
He received a $75,000 increase in base salary during
the year “due to his strong global leadership during the
economic recession and his continued pursuit of our
company’s short and long-term strategic objectives,”
the proxy stated.
The bulk of Kenny’s increased compensation came
in the form of performance-based long-term equity
awards of stock and options. Those awards in 2011
totaled $3.4 million, up 69 percent from $2 million in
2010.
Sales for General Cable, a manufacturer of cable and
wire products, increased 21 percent in 2011 to $5.9
billion. Net income also increased 21 percent to $84
million. Earnings per share rose 20 percent to $1.57,
compared with $1.31 in 2010, but the company’s stock
price declined 29 percent during 2011, from $35.09 to
$25.01 at the end of the year.
General Cable
CEO pay rise