PepsiCo CEO's pay rises 13% as health push helps boost earnings

PepsiCo Chief Executive Officer Indra Nooyi received $29.8 million in compensation for 2016, a 13 per cent increase, as efforts to steer the company’s portfolio away from sugary products helped earnings.

Nooyi, 61, received $14.4 million in cash bonuses and $8.91 million in stock awards, according to a regulatory filing Friday. Her package also includes a $1.73 million salary. It’s the fourth consecutive pay raise for Nooyi, who has been CEO since 2006. 

The food-and-beverage giant has been working to meet consumers’ growing demand for healthier products, generating 45 per cent of its fourth-quarter revenue from so-called guilt-free items, such as lower-calorie drinks. That’s helping the company weather a decline in soda consumption, which reached its lowest level per capita in more than 30 years, according to trade publication Beverage Digest.

Shares of Purchase, New York-based PepsiCo rose 4.7 per cent last year, compared with a 3.5 per cent drop for rival Coca-Cola. The Standard & Poor’s 500 Index gained 9.5 per cent.

PepsiCo Chief Financial Officer Hugh Johnston received $10.3 million for 2016, and Al Carey, head of the company’s North American market, got $10.1 million.

Source :Times Of Oman