ArcelorMittal CEO's Annual Compensation Up 5.3% In 2011
22 Febbraio 2012 - 3:02PM
Dow Jones News
Arcelormittal's (MT) chief executive and chairman Lakshmi Mittal
earned a 5.3% rise in his annual compensation in 2011, according to
the steel giant's latest annual report released Wednesday.
Lakshmi Mittal, head of the world's largest steel company by
output, earned an annual compensation of $1.74 million in 2011
compared with $1.65 million the year before. The 2011 figure
included $13,000 paid for services rendered in the previous
year.
In terms of bonus, the short-term related bonus package given to
Mittal was $2.07 million in 2011 compared with $692,000 in
2010.
The 2010 figure was low due to the fact that the bonus package
granted in 2010 referred to the company's performance in 2009 when
the global steel industry was still in the doldrums due to the
financial crisis that hit steel demand.
Mittal's long-term performance related bonus was 12,500 options
in 2011. This compares with 56,500 options granted in 2010 at a
strike price of $30.66 which resulted in a long-term bonus of $1.73
million. A similar calculation couldn't be made for 2011 since a
strike price wasn't disclosed.
Mittal and his wife own 41.15% of the company's outstanding
shares, which is valued at EUR10.5 billion or $13.9 billion.
-By Alex MacDonald, Dow Jones Newswires; +44 (0)20 7842 9328;
alex.macdonald@dowjones.com
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