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Wal-Mart CEO Doug McMillon Gets $19.4M Pay Package

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Wal-Mart Stores Inc. President and CEO C. Douglas McMillon saw his total compensation fall 24.2 percent to $19.4 million for the fiscal year that ended Jan. 31 compared with the previous year.

McMillon, who became president and CEO of the Bentonville retailer in February 2014, received stock awards of $14.6 million during the fiscal year, according to the company’s annual proxy statement filed with the U.S. Securities & Exchange Commission. The stock awards have not been paid yet, but they will be realized over three years if Wal-Mart hits certain goals.

The company set 7:30 a.m. June 5 as the date for its annual shareholders’ meeting, which will be held at the Bud Walton Arena at the University of Arkansas at Fayetteville.

The other top executives who had been in listed in previous proxy statements also saw their total compensation drop in fiscal 2015.

Charles M. Holley Jr., executive vice president and CFO, saw his total compensation dip 9.4 percent to $8.2 million from the previous year. His base salary increased 11.3 percent to $885,165. He received stock awards worth $4.8 million, down from $6.2 million a year earlier and a cash incentive of $1.3 million, up from $827,762 the previous year.

Rosalind Brewer, an executive vice president, saw her total compensation fall from $11.7 million to $9.56 million for the fiscal year that ended Jan. 31. She took home a base salary of $893,819, which was up from $843,544 the previous year. But her stock awards of $6.7 million in fiscal 2015 declined 27 percent from the previous year. Her cash incentive increased, though, from $1.3 million for fiscal 2014 to $1.7 million

Neil Ashe, executive vice president, had a total compensation of $9.4 million for the fiscal year that ended Jan. 31. That was down 28.4 percent from the previous year. His base salary climbed 10.9 percent to $935,303 during that time and his stock awards fell from $11.3 million to $6.6 million. But his incentive pay increased 57 percent to $1.6 million in fiscal 2015.

The new names on the top executive’s list are David Cheesewright and Gregory Foran, executive vice presidents. Foran replaced U.S. division CEO Bill Simon. Cheesewright is Walmart International’s president and CEO. 

Foran’s total compensation was the highest on the list of executives at $19.5 million. His base salary was $846,910 and his stock awards were worth $15.8 million. He received a $500,000 bonus and an incentive pay of $1.3 million.

Foran’s high stock awards were a result of the timing of being named in August as CEO of Walmart U.S. He received his awards for that position at the end of Wal-Mart’s fiscal year. He also received his annual performance share awards during the fiscal year for his previous position as CEO of Walmart China, which gave him two performance share awards.

Cheeswright’s total compensation was $10.7 million. His base salary was $1.2 million and he received a bonus of $551,852. He had stock awards of $5.6 million. His incentive pay was $2.5 million. 

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