PURCHASE (dpa-AFX) - Food and beverage giant PepsiCo, Inc. (PEP) revealed in a regulatory filing on Friday that Chairman and Chief Executive Officer Indra Nooyi received a 2012 total compensation that was 17 percent lower than last year.
The Purchase, New York-based make of Frito-Lay snacks and Tropicana juice revealed this in a definitive proxy statement filed with the U.S. Securities and Exchange Commission on Friday.
Nooyi, who has led PepsiCo for nearly seven years, received a total compensation of $14.21 million, including base salary, stock grants and incentives in 2012, compared to the $17.12 million she received last year, and $16.18 million she got in 2010.
The total compensation received by Nooyi in 2012 includes $1.60 million as base salary, $7.53 million as stock grants, non-equity incentive plan compensation of $3.30 million, deferred compensation earnings of $1.63 million and all other compensations of 0.15 million.
No stocks options were awarded in 2012 compared to $3.23 million worth of options awarded in 2011.
Nooyi's salary edged up from $1.58 million in 2011, stock awards increased more than 20 percent and non-equity incentive plan compensation grew more than 32 percent. However, deferred compensation earnings dropped 46 percent, and other compensations were down 71 percent.
Under Nooyi's leadership, PepsiCo met or exceeded its 2012 financial commitments. In addition, Nooyi made significant progress in increasing the company's presence in emerging and developing markets, driving sustainable product and re-shaping PepsiCo's business operating model. This helped the company deliver incremental productivity savings.
Nooyi, age 57, has been serving as PepsiCo's CEO since 2006, assumed the role of chairman in 2007, and was elected to the board as well as became president and CFO in 2001. She earlier served as senior vice president and CFO for a year.
Nooyi also served as PepsiCo's senior vice president of corporate strategy and development from 1996 until 2000, and as senior vice president of strategic planning from 1994 until 1996. She has been working at PepsiCo for the past 19 years.
Prior to joining PepsiCo, Nooyi spent four years as senior vice president of strategy, planning and strategic marketing for Asea Brown Boveri, Inc. She was also vice president and director of corporate strategy and planning at Motorola, Inc.
Meanwhile, the filing also shows an eight percent increase in total 2012 compensation for Chief Financial Officer Hugh Johnston to $4.68 million from last year's $4.35 million.
PEP closed Friday's regular trading session at $78.64, up $2.49 or 3.27% on a volume of 14.23 million shares.
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