Former Sears CEO's Compensation Tripled In 2010

Back in February, the Sears Holding Company named Louis J. D’Ambrosio, formerly of IBM and of Avaya, its new CEO. As the company continues to struggle for profits and relevance, the Associated Press determined that W. Bruce Johnson, interim CEO from 2008 until this year, got a huge raise in 2010, which more than tripled his pay. For what? Not improving customers’ satisfaction with Sears, if our mailbox is any indication.

The increase came not in the form of a salary increase or cash bonus, but awards of Sears Holding Company stock. In 2010, those totaled $4.3 million, up from the $663,400 he received in 2009.

Johnson now serves as executive vice president for off-mall businesses and supply chain.

Sears Interim CEO 2010 Pay More Than Triples [AP]

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