Wal-Mart Execs Naturally Dominate List of Executive Compensation

by Gwen Moritz  on Monday, Jul. 21, 2014 12:00 am  

Top executives at the world’s largest company continue to dominate Arkansas Business’ annual list of public company executive compensation, starting with the new CEO, Doug McMillon.

McMillon, who succeeded Mike Duke as CEO at the start of the current fiscal year on Feb. 1, also succeeded him at the top of the list with total compensation in fiscal 2013 of $25.6 million. The bulk of that — $23 million — came in the form of stock awards, a triple-helping awarded Jan. 24 in recognition of his promotion effective the next week.

The four highest-paid executives of Arkansas public companies work for Wal-Mart, and the No. 5 position belongs to Roger W. Jenkins, who was promoted to president and CEO of Murphy Oil Corp. of El Dorado last year.

Murphy Oil’s August spinoff of its retail division into a separate publicly traded company, Murphy USA Inc., added five new “named executive officers” to the list, which grew from 88 last year to 93. The named executives for MUSA — that’s Murphy USA’s ticker symbol — are No. 18 CEO R. Andrew Clyde, who was hired just in time for the spinoff, and four former Murphy Oil executives who moved to the new company: Executive Vice Presidents Mindy West (No. 20) and John C. Rudolfs (No. 50) and Senior Vice Presidents John A. Moore (No. 45) and Jeffery A. Goodwin (No. 53).

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Another new name on the list is John Simone, who was hired as CEO of USA Truck Inc. of Van Buren in February, sending former CEO Cliff Beckham back to his job as chief financial officer.

Two companies on the list have new names since last year. First Federal Bancshares of Arkansas, the holding company for First Federal Bank of Harrison and the recently acquired First National Bank of Hot Springs and Heritage Bank of Jonesboro, has been renamed Bear State Financial Inc. Arkansas Best Corp., parent of ABF Freight and other subsidiaries, has been renamed ArcBest Corp.

Arkansas Business’ list ranks executives by total compensation as reported in each company’s annual proxy statement. Cash realized by the exercise of stock options is reported on the list but is not included in the total.



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