Acxiom CEO John Meyer Left With $2.6 Million in Severance

by Lance Turner  on Thursday, Jun. 30, 2011 3:49 pm  

Most of former Acxiom CEO John Meyer's pay boost came from items listed under "other compensation," which included $2.62 million in severance pay.

In his final year as chief executive, former Acxiom Corp. CEO John Meyer's total compensation rose about 29 percent from the previous fiscal year, according to the Little Rock-based data services company's annual proxy, filed Thursday.

Meyer took home $6.24 million in total compensation in fiscal 2011, up from $4.84 million in fiscal 2010. But his base salary in 2011, $630,000, was down from $647,500 in 2010.

Most of Meyer's pay boost came from items listed under "other compensation," which included $2.62 million in severance pay, as well as matching contributions to his 401(k) and supplemental executive retirement plans.

Acxiom announced Meyer's departure in March, along with the departure of its chief financial officer, Christopher W. Wolf. Meyer's departure was immediate; Wolf finally left the company June 1 and has been hired as CFO of First Advantage of St. Petersburg, Fla., another data services firm.

The proxy also noted that in his transition agreement, Meyer agreed not to talk about, compete with or lure clients from Acxiom, stipulations he agreed to in his original employment agreement with the company.

Until the company finds a new CEO, board member Jerry Gramaglia is interim CEO. Gramaglia has said the company is seeking a chief executive skilled in digital media. He has said the new CEO will name a new CFO.

Gramaglia's total compensation for fiscal 2011 was $245,769, only $10,769 of it as interim CEO. The rest was his compensation as a member of the board of directors.

Acxiom has scheduled its annual meeting for 11 a.m. Aug. 17 at its River Market Building, 601 E. Third St. in Little Rock. Among is agenda items is to elect Dillard's Inc. of Little Rock Chairman and CEO William T. Dillard II and Lime Barrell Advisors Inc. founder and CEO R. Halsey Wise to three-year terms on its board of directors.

Like other publicly traded companies affected by the Dodd-Frank Wall Street Reform & Consumer Protection Act of 2010, Acxiom is asking its shareholders to give advisory approval to its executive compensation plan.

The Dodd-Frank Act requires shareholder guidance on executive compensation either every year, every other year or every third year, and Acxiom is asking shareholders to vote on executive compensation every year.

Other Acxiom executives and their compensation:

  • John A. Adams, COO and executive vice president earned a salary of $450,000 and total compensation of $1.65 million, compared with a fiscal 2010 salary of $462,500 and total compensation of $1.72 million.
  • Christopher W. Wolf, CFO and executive vice president, earned a salary of $370,000 and total compensation of $1.56 million, compared with a fiscal 2010 salary of  $377,500 and total compensation of $1.29 million. Wolf's 2011 compensation includes more than $249,000 in additional stock awards over what he received in fiscal 2010.
  • Shawn M. Donovan, senior vice president of global sales, earned a salary of $354,583 and total compensation of $1.22 million, compared with a fiscal 2010 salary of $330,312 and total compensation of $917,055.
  • Chief Legal Officer and senior vice president Jerry C. Jones earned a salary of $351,500 and total compensation of $654,396, compared with a fiscal 2010 salary of $358,625 and total compensation of $775,794.

 

 

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