Millennium Post
Business

Nooyi got 7 per cent pay hike to $18.6 mn in 2013

The beverages-and-snacks giant awarded Nooyi a total direct compensation of $18.6 million for 2013 against $17.4 million in the preceding year and $16.6 million for 2011.

Nooyi’s 2013 compensation included $1.6 million in base salary, performance-based bonus of $4 million, PepsiCo equity performance units worth $7.8 million and long-term cash awards valued $5.2 million. Other pay last year included $102,772 for use of the company aircraft and $30,463 for ground transportation.

PepsiCo, which had been under pressure to improve its earnings, announced a strategy under Nooyi’s leadership in 2012 to strengthen its brands. PepsiCo invested in marketing for its Pepsi soda, which had lost market share to rival Coca-Cola over the past few years. Nooyi, 58, has been chief executive of PepsiCo since 2006. In a regulatory filing, PepsiCo said that it had delivered a strong performance in 2013 under Nooyi’s leadership.
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