BC-Estee Lauder-Executive Compensation,0339
Estee Lauder CEO Lauder gets $9.1M in compensation
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By BETSY VERECKEY
AP Business Writer
NEW YORK -- Cosmetics company Estee Lauder Cos. paid Chief Executive William P. Lauder $9.1 million in total compensation for the fiscal year ended June 30, up 11 percent from the year before, according to a regulatory filing.
Lauder's pay package included $1.5 million in base salary, flat from a year earlier, the company disclosed in a proxy filing with the Securities and Exchange Commission. His bonus increased 41 percent to $3.1 million from $2.2 million a year earlier.
Lauder also received stock options and restricted stock valued at $4.45 million on the days they were granted.
Lauder received $63,623 in other compensation, which includes company contributions to a retirement plan, life insurance coverage and personal use of a company-leased auto or auto allowance.
The Associated Press calculations of total compensation include executives' salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year. The calculations don't include changes in the present value of pension benefits, and they sometimes differ from the totals companies list in the summary compensation table of proxy statements filed with the Securities and Exchange Commission.
For 2008, the company's earnings rose 6 percent to $473.8 million, or $2.40 per share, from $449.2 million, or $2.16 per share last year. Revenue rose 14 percent to $2.01 billion from $1.76 billion last year.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
AP-NY-10-06-08 1911EDT
10-06-2008 23:11UTC / (AP.ny-apm.05a.am-nyny-inwcp02) /
