Monday, April 6, 2009

Calling For the Resignation of The Board of Directors

2008 was a very good year to be a Furniture Brand's Executive. The Board created eligibility for bonuses based on free cash, market share and other nifty metrics that amounted to a multi-million dollar give-away to top executives.

If you mismanage your assets and your inventory and then subsequently have to sell that inventory at discounts so deep your product ends up at Big Lots you better work at Furniture Brands. The Scozz managed to register a 75% gain over his 07' salary . That's nice. We'd like to ask the Board where the shareholders fall in the line of payouts?

Total Compensation:

Scozzafava: $4.8 million

Rolls: $2.2 Million

Cook: $2.3 Million

Holliman $1.6 Million

Isaak: $715k

Sweetman: $1.6 Million (can someone explain to me what vital function HR performs that requires a $1.6 million dollar salary? To put this in perspective, CEO of Goldman Sachs Llyod Blankfein made less than Sweetman last year)

Chipperfield: $2.1 Million

Foy $2.1 Million

1 comment:

  1. Sweetman is a major cause of the problem. Very manipulative and very non-employee focused. Clearly doesn't add value, but must have something going on. That salary is outrageous, particularly considering what the brand CEO's made during the good times! Pitiful.

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