Xylem Chief Executive McClain’s Pay Dropped 29 Percent in 2012

Xylem Inc., a maker of water treatment systems, reduced pay for Chief Executive Officer Gretchen McClain by 29 percent last year absent one time stock awards related to the company’s 2011 spin-off from ITT Corp.

McClain’s total compensation dropped to $6.2 million last year from $8.78 million in 2011, the White Plains, New York-based company said today in a regulatory filing. Her base salary increased 48 percent to $935,000.