Sep 23, 2011 8:26 PM by Dr. Anya Winslow

One CEO has pay drop to $10.9 million

Archer Daniels Midland Co. says it paid its CEO $10.9 million for its most recent fiscal year, a 1 percent cut, even though she met or exceeded most of her targets.

The seller of products from animal feed to supply chain management and financial services, ADM said Friday that it set higher goals for chairman and CEO Patrica Woertz this year than last.

Woertz's incentive pay dropped 16 percent to $2.5 million. Her $1.3 million salary didn't change. The value of her stock awards and option awards both rose slightly, totaling $7.1 million.

Her other compensation of $60,861 included more than $38,000 for personal use of the company plane.

The AP's calculation counts salary, bonuses, perks and stock and options awarded to the executive during the year.

(Copyright 2011 by The Associated Press. All Rights Reserved.)


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