Wal-Mart CEO picks up $18.1 million

Mike Duke's compensation still fell, however, as his cash incentive payment dropped.

By Benzinga Apr 16, 2012 5:36PM

Image: CEO (© Photodisc/Getty Images)By Brett Callwood, Benzinga Staff Writer

The bad news for Wal-Mart (WMT) CEO Mike Duke? His total pay dropped 3.1% last year. The good news? He still got a healthy $18.1 million.

The reduction was largely due to a cash incentive payment that dropped 25% to $2.9 million in the fiscal year ended in January, according to a regulatory filing. His cash incentives were way below what he was expecting, mostly because the retailer did not hit the targets it had set.

On the plus side for Duke, the value of his stock awards rose 3.3% to $13.1 million, making up the bigger part of Duke's personal pie. His salary increased 2.6% to $1.3 million.

It's been a tough few months for Wal-Mart, with the company struggling to fight off rising gasoline prices and competition for dollar stores as well as online merchants like Amazon (AMZN). Wal-Mart has lowered prices, but that move has eaten into the company's profit margin.

Wal-Mart shares closed Monday at $60.58, up 1.37% this year.

Did Duke deserve the compensation he received last year? Wal-Mart's stock price rose 12% in the company's fiscal year. One of Duke's key accomplishments was reversing a damaging slump in U.S. same-store sales. Still, he was not able to meet the company's internal financial targets.

Separately, Wal-Mart said that Google (GOOG) executive Marissa Mayer has been nominated for election to its board. Shareholders will vote on her nomination at the annual meeting in June.

More from Benzinga

Apr 16, 2012 7:58PM
IamWrite, $18.1 million divided up among the company's 2,000,000 employees would be $9.05 per employee.  Do you honestly think that would make a difference?  And define "rape the communities?"  

"Remember how well the economy worked when GM was the largest employer?"  You have got to be kidding me, right?  How is GM doing now after their bailout by the government?  Where are they on paying all those pensions they racked up when the economy was working so well?  

Distribution of wealth?  BS.  Do you honestly think that hard-working citizens that bust their tails to earn a good living and make some dough should be supporting the lazy, entitled citizens that don't want to work?  Let me guess?  You probably think socialism is a good idea, too?
Apr 16, 2012 6:39PM
Poor guy!!!!  I dont know how he is going to make it & provide for his family!!!
Apr 16, 2012 9:13PM
SmileHi,   most normal people work for there living  everyday!
Apr 16, 2012 11:48PM
Life's a bitch for the Walmart CEO isn't it.
Apr 16, 2012 7:41PM
I think  the economy of the USA would be much better off if the 18 mill that one guy got were to be distributed among the employees of Wal-Mart to be spent in their respective communities. Instead they choose to rape the communities, that they have in many cases forced their way into, while loading up the medicaid and welfare offices of local counties. Since Wal-Mart is the largest employer in the world they should pay like it. Remember how well the economy worked when GM was the largest employer, and the pay their employees made?  We need to have this sort of distribution of wealth again, or the economy will never reach the heights we seen from the end of WW11 to just recently.
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