Kroger got a 30% boost in sales in March, but is ending $2-an-hour hazard pay. This week, Rodney McMullen, the CEO of Kroger, was rewarded a 17 percent pay raise by the company’s board of directors. As Chairman and Chief Executive Officer at KROGER CO, W. Rodney McMullen made $11,701,917 in total compensation. Company profile for Kroger Co. including key executives, insider trading, ownership, revenue and average growth rates.
When you include the value of our benefits, that takes it up north of $20 an hour.”This despite continued calls by union officials to bring back the $2-per-hour wage boost that Kroger and other grocery chains had been paying their essential workers.
“Now, we’re investing a lot in terms of (extending) our emergency leave program. Our Take On Kroger's (NYSE:KR) CEO Salary. Let’s see board of directors compensation and executive team salaries. Kroger is the largest grocery-only company in … Kroger got a 30% boost in sales in March, but is ending $2-an-hour hazard pay. Kroger's local employment increased 33% to 20,000 since the pandemic began, while the company hired 100,000 people nationwide.McMullen also foresees a permanent shift towards higher wages, even if it doesn’t come in the form of hazard pay.McMullen said Kroger spent $830 million on temporary wage and benefit adjustments in the first quarter, which ended May 23.McMullen said Kroger is not in the same predicament as the 600 U.S. companies that have so far announced pay cuts for top executives.“At this point, that is not something that we’ve talked about or evaluated,” he said. In 2019, six Kroger executives received on average a compensation package of $8.7M, a 46% increase compared to previous year. We’re also continuing to invest aggressively in terms of safety and protection as we learn about it, providing masks for our associates and those things.”On the topic of wages, McMullen said Kroger will not join the ranks of companies cutting pay as one way of coping with coronavirus.“We had planned on incrementally investing $500 million a year in wages,” he said.
The actual figure disclosed by Kroger was $26,790, which it said meant the CEO-to-median-employee ratio (a newly-required disclosure) was 789 to 1.Sanders suspended his campaign for the Democratic race for the president on April 8.Last week, Kroger announced it was winding down its extra $2-per-hour "hero pay" for frontline workers, but amid pushback by its union on Friday announced a "thank you" bonus that would be paid in two lump sums into June.Sanders cited McMullen's total compensation listed in Kroger's proxy filed last week, which includes $7 million in pension value changes and nonqualified deferred compensation. Kroger's move drew some ire on social media.Kroger officials say their total fatalities from the pandemic number less than 10 out of more than half a million workers.The union has urged Cincinnati-based Kroger to extend the extra pay "for as long as we face a global pandemic. Tags : Related posts. His total compensation jumped from $9.2 million to a staggering $11.2 million.Assuming he works an average number of hours per year, which the federal Office of Personnel Management estimates to be 2,087, McMullen now makes $5,366.55 per hour, or $89.44 per minute. CEO Name CEO Pay Median Employee Pay CEO Pay Ratio; W. Rodney McMullen: CEO Pay $12,037,872: Median Employee Pay $24,912: CEO Pay Ratio 483:1: Board of Directors in KROGER CO. McMullen received $12m compensation in FY 2018, jumping by 21% to $20.1m for FY2019 due to "a boost in stock awards tied to performance incentives". Kroger CEO W McMullen's 2019 pay jumps 76% to $21.1M Kroger reports 2019 executive compensation. 29. Tags : Related posts. It can damn well afford to pay grocery workers a dignified wage as they risk their lives," Sanders tweeted.Sanders' figure for the typical employee appears to be based on Kroger's disclosed pay to the "median employee" in its proxy. The company has nearly 2,800 stores and employs 540,000 workers.The change comes just as Walmart announced yet another round of bonus pay on Tuesday for its associates that will pay out in late June. Its ratio is higher than most partly because it … This year, McMullen agreed to talk by phone, telling the I-Team that the company will see some permanent changes from the global pandemic that caused food shortages, surging revenue, binge buying and changes in consumer spending habits.And he believes the company will benefit from a permanent shift toward eating at home.“We’re in the hiring mode as opposed to furloughing,” he said. It also comes as Kroger disclosed Tuesday that its CEO Rodney McMullen was given a 21% pay raise (about $2.5 million) in the last fiscal year for a … "Along with other retailers, Kroger first handed out bonus pay in late March as the pandemic led to mass shutdowns of restaurants and spurred consumers to stock up their pantries.The bonus pay was an extra $2 an hour for frontline workers in stores, factories, pharmacies, call centers and warehouses. Published: May 12, 2020.