MSO Co-CEOS Millard; $650K Base Salary; 100 Percent Target Bonus
This story was written by Joseph Weisenthal.
Martha Stewart Omnimedia (NYSE: MSO) has set the salaries of its two co-CEOs, Wenda Harris Millard and Robin Marino According to an 8-K filing, the pair will receive base salaries of $650,000, with a target bonus of 100 percent of the base. The bonus can go as high as 150 percent if they exceed expectations. In addition, the two will receive fresh options grants and should they retire or fired without good cause, they'll be eligible for a lump sum payment equal to 18 months salary. Their current contract runs through December 31, 2011. Millard and Marino were made were made co-CEOs in June upon the departure of former CEO Susan Lyne.
At the same time, the company provided details of Chairman Charles A. Koppelman compensationhe will receive a $900,000 base salary, with the same type of bonus targets.
By Joseph Weisenthal