Don't feel too bad for H.J. Heinz Chairman Anthony O'Reilly. Sure, Heinz cut his salary and bonus by 32%, to $1.9 million, for fiscal 1994 because of weak results. But O'Reilly still gets options on 750,000 shares of stock. That more than makes up for the cutback in cash. The option grant--subject to shareholder approval--is already worth more than $1.3 million. Other CEOs who saw declines in their salary and bonuses last year: the heads of Amoco, Corning, Kmart, Merck, Philip Morris, and Xerox.

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