Daily Herald - Suburban Chicago's source for news This copy is for personal, non-commercial use. To order presentation-ready copies for distribution you can: 1) Use the "Reprint" button found on the top and bottom of every article, 2) Visit reprints.theygsgroup.com/dailyherald.asp for samples and additional information or 3) Order a reprint of this article now.
Article posted: 12/21/2012 10:38 AM

Oreo cookie maker Mondelez gives CEO $10M award

By

NEW YORK -- The company that makes Oreo cookies is sweetening the pay for its CEO with a special stock award valued at $10 million.

Mondelez Inc. says in a regulatory filing that the reward recognizes Irene Rosenfeld for "top-tier performance," including the recent "highly successful" spinoff of its Kraft Foods grocery business.

Mondelez, which also makes Cadbury chocolates and Trident gum, says the pay also is intended to give her incentive to continue delivering strong results. It includes restricted stock that will vest after three years and restricted stock based on the company's performance.

Rosenfeld, who took over as CEO in 2006, received a pay package worth $15.7 million as CEO of Kraft Foods Inc. last year, according to an Associated Press calculation.

Mondelez is based in Deerfield.

Copyright © 2014 Paddock Publications, Inc. All rights reserved.