ConAgra chief's pay up 4%

Gary Rodkin ALYSSA SCHUKAR/THE WORLD-HERALD


ConAgra Foods chief executive officer Gary Rodkin received a total of $10.7 million in compensation in the fiscal year that ended May 26, an increase of 4 percent over his pay a year earlier, according to a filing Monday with the U.S. Securities & Exchange Commission. The increase came in a year in which Omaha-based ConAgra made a major acquisition and saw earnings per share rise 17 percent.

Rodkin's pay in fiscal 2013 included a base salary of $1.09 million, in addition to stock awards, stock options and incentive pay.

An annual pay structure is set in advance by the board and is intended to reward performance and promote shareholder value, ConAgra said in the filing. Actual pay is determined in part based on attainment of annual and long-term business goals.

Gary Rodkin's pay as ConAgra Foods CEO

2013: $10.7 million

2012: $10.3 million

2011: $8.5 million

2010: $9.8 million

2009: $7.0 million

2008: $9.4 million

Source: SEC filings

ConAgra's 2013 earnings per share were $2.16, up 17 percent from 2012, more than double the company's stated goal of a 6 percent to 8 percent increase. The packaged foods company acquired private-label manufacturer Ralcorp and announced plans to combine its milling business with Horizon Milling in a joint venture.

Pay for other ConAgra executives was also higher than in 2012 and included: John F. Gehring, executive vice president and chief financial officer, $2.8 million; Colleen R. Batcheler, executive vice president and general counsel, $2 million; Brian L. Keck, executive vice president and chief administrative officer, $2.6 million; Paul T. Maass, president, private brands and foodservice, $3.1 million; Andre J. Hawaux, former president, consumer foods, $2.9 million.

Shareholders also benefited. ConAgra raised its annual dividend to $1 per share, and share prices rose about 38 percent during the year.

Shareholders will have the opportunity to cast an advisory-only vote on the executive pay structure for the 2014 fiscal year at ConAgra's annual meeting, set for Sept. 27 at the Joslyn Art Museum.

Shareholders will also vote on whether to approve the re-election of each of ConAgra's 11 directors. In addition to Rodkin, they are: board chairman Steven F. Goldstone, a former chairman and chief executive officer of RJR Nabisco; Mogens C. Bay, chairman of the board and chief executive officer of Valmont Industries; Stephen G. Butler, former chairman and chief executive officer of KPMG, the accounting firm; Joie A. Gregor, a former vice chairman of executive search firm Heidrick & Struggles International; Rajive Johri, former president and director of First National Bank of Omaha;

W.G. Jurgensen, former chief executive officer of Nationwide Financial Insurance Services; Richard H. Lenny, former chairman, president and chief executive officer of The Hershey Company; Ruth Ann Marshall, former president of the Americas division of MasterCard International; Andrew J. Schindler, former chairman and chief executive officer of R.J. Reynolds Tobacco Holdings; and Kenneth E. Stinson, chairman emeritus of the board of Peter Kiewit Sons' Inc.

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