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Dillard's executives received no bonuses in 2007 Wednesday, Apr 23, 2008 By Jason Wiest Arkansas News Bureau LITTLE ROCK - Executives with Dillard's Inc. did not receive bonuses in 2007, a regulatory filing made Tuesday showed. In the past year, the retailer was plagued by falling sales and profits as well as an activist shareholder group that criticized Dillard's management practices and successfully got Dillard's endorsement for four new company directors. CEO William Dillard II earned a base salary of $810,000, up $40,000 since 2006. His total compensation, however, was $1.8 million less than the previous year, down to $2.8 million. Dillard and other executives went without a bonus, which for Dillard totaled $2.5 million in 2006. President Alex Dillard also received a $2.5 million bonus last year, while vice presidents Mike Dillard and Drue Corbusier as well as chief financial officer James Freeman received bonuses of $1.2 million last year. Alex Dillard's total compensation for 2007 fell almost $2 million to $2.2 million. Mike Dillard's total compensation was down slightly more than $1 million to $1.3 million. Corbusier took a $376,000 pay cut with earnings of $2 million, while Freeman's compensation fell $792,000 to $1.4 million. The company is set to hold its annual stockholders' meeting May 17. Shares of Dillard's (NYSE: DDS) fell 10.7 percent Tuesday, closing at $20.51, down $2.45 since the market's close on Monday. |
