Heads or Tails, Some CEOs Win the Pay Game
The biggest annual loss in Alpha Natural Resources’ history should have been bad news for Chief Executive Officer Kevin Crutchfield. Under the compensation formula set by the coal miner’s board, Crutchfield wasn’t entitled to a cash bonus in 2011. Yet directors at the Bristol (Va.)-based company paid him a $528,000 bonus anyway, for total pay of $6.7 million, citing his “tremendous efforts” toward improving worker safety.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.