Thursday, July 25, 2019

Battle Creek, Michigan-Based Cereal Company Kellogg's Top-Tier Executives Average Pay Raise Was 7.8% Per Year During the Past 10 Years (2009-2018)

Detroit, Michigan is the site of the second Democratic 2020 Presidential candidate televised debate to be held on July 30-31, 2019.  The Under 75 Progressive Wing will be led by the energetic Elizabeth Warren, Kamala Harris, Corey Booker and Julian Castro.  The Under 75 More Moderate Wing will be led by Pete Buttigieg, Amy Klobuchar, Beto O'Rourke and Latecomers Michael Bennet and Steven Bullock.

The key issue to Detroit and to Michigan citizens should be the huge and continuing Income Inequality Expansion which is at the core of many critical problems the US faces.

Thus I will be doing research and making posts on the average pay raise per year that the Top-Tier Executives of many large Michigan Companies were rewarded with in the past ten years.

The sixth Michigan Company I am addressing is Cereal Maker Kellogg.

From annual compensation information contained in Company Proxy Statement filings with the SEC, the chart at the very bottom below shows Kellogg's Top-Tier Executives Annual Total Compensation for each of two consecutive full years of employment for the most recent ten years.   

Kellogg's Top-Tier Executive Average Pay Raise was 7.8% per year for the last ten which is the lowest of the large Michigan Companies I have addressed so far.

  1. General Motors  +29.5% per year for the past ten years
  2. Stryker Corp +20.7% per year for the past ten years
  3. Ford Motor Co +17.0% per year for the past ten years
  4. DTE Energy +10.6% per year for the past ten years
  5. Aptiv PLC +10.0% per year for the past eight years
  6. Kellogg +7.8% per year for the past ten years
FYE
FYE
FYE
FYE
FYE
FYE
FYE
FYE
FYE
FYE

Dec
Dec
Dec
Dec
Dec
Dec
Dec
Dec
Dec
Dec
Kellogg Company
2018
2017
2017
2016
2016
2015
2015
2014
2014
2013
Top-Tier
Total
Total
Total
Total
Total
Total
Total
Total
Total
Total
Executive
Comp
Comp
Comp
Comp
Comp
Comp
Comp
Comp
Comp
Comp
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
Steve Cahillane CEO  N/A   N/A 
Fareed Khan CFO  N/A   N/A 
Chris Hood President North America       3,948       3,394       3,394       2,865  N/A   N/A 
Gary Pilnick Vice Chair Chief Legal Officer       3,473       4,837       4,837       3,841       3,841       3,085       3,085       2,521       2,521       2,400
Alistair Hirst SVP Global Chain  N/A   N/A        2,846       3,896       3,896       2,593
Paul Norman President North America       7,060       6,663       6,663       5,109       5,109       4,888       4,888       4,424
John Bryant Chairman     12,768     12,400     12,400       9,871       9,871       9,263       9,263       7,964
Ron Dissinger Retired CFO       2,336       4,895       4,895       4,047       4,047       4,016       3,858       4,142
 Totals        7,421       8,231     30,395     30,664     27,799     22,112     24,958     24,584     24,426     21,523
Annual % Change vs Prior Year -9.8% -0.9% 25.7% 1.5% 13.5%
5 Year Average Per Year % Change 6.0%
FYE
FYE
FYE
FYE
FYE
FYE
FYE
FYE
FYE
FYE
Dec
Dec
Dec
Dec
Dec
Dec
Dec
Dec
Dec
Dec
Kellogg Company
2013
2012
2012
2011
2011
2010
2010
2009
2009
2008
Top-Tier
Total
Total
Total
Total
Total
Total
Total
Total
Total
Total
Executive
Comp
Comp
Comp
Comp
Comp
Comp
Comp
Comp
Comp
Comp
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
John Bryant Chairman       7,964       6,618       6,618       6,595       6,695       3,477       3,477       4,726       4,726       5,320
Paul Norman President North America       4,424       4,875       4,875       3,405       3,405       2,419       2,419       3,391       3,391       3,320
Ron Dissinger Retired CFO       4,142       2,800       2,800       2,697       2,697       1,701  N/A   N/A     
Alistair Hirst SVP Global Chain  N/A   N/A 
Gary Pilnick Vice Chair Chief Legal Officer       2,400       2,149       2,149       2,218       2,218       2,069  N/A   N/A     
Brad Davidson Former Pres North America  N/A   N/A        4,385       4,037       4,037       2,820       2,820       4,275       4,275       4,311
David Mackay CEO       7,972     11,419     11,419     12,301
Tim Mobsby President Europe       4,096       2,694
 Totals      18,930     16,442     20,827     18,952     19,052     12,486     16,688     23,811     27,907     27,946
Annual % Change vs Prior Year 15.1% 9.9% 52.6% -29.9% -0.1%
5 Year Average Per Year % Change 9.5%
10 Year Average Per Year % Change 7.8%