wiredinUSA May 2012

INDEX

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

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wiredInUSA - May 2012