4.5m pay rise for U.S. boss of Cadbury's who snubbed MPs: Salary jump to 18.9m works out at 31.5%
Irene Rosenfeld, head of American owners Kraft, gets 31.5 per cent pay riseProvoked anger with ruthless takeover of confectioner in 2010Has refused to explain actions to House of Commons select committee
, she ended up wielding the axe a few weeks later.
After masterminding a plan to split Kraft in two, Miss Rosenfeld remained with the snack business that makes Oreo biscuits, Ritz crackers and Dairy Milk bars, while spinning off the larger cheese-based business which kept the Kraft name.
However, since the split in October, Mondelez has disappointed. In its first two quarters, revenue growth fell short of its own forecasts, with net income down 29 per cent and 36 per cent respectively.
But the poor results do not seem to have had any impact on Miss Rosenfeld’s huge pay rewards. She received a 6.6million bonus for splitting the businesses in two, basic pay of 1million, and a performance-based bonus of 1.3million – down from 2.7million in the previous year.
The scandal-hit boss also received 10.2million in stocks, 1.6million in share options and a 4.47million lift in the value of her pension.