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The Canadian Press - ONLINE EDITION
Wendy's paid new CEO $4.6M for last 4 months of 2011; former CEO got $11.3M in severance
This Jan. 29, 2012 photo, shows a Wendy's sign at a restaurant in Culver City, Calif., Jan. 29, 2012. THE CANADIAN PRESS/AP, Reed Saxon
NEW YORK, N.Y. - Wendy's gave its new CEO a pay package worth $4.6 million for the last four months of 2011.
Emil Brolick was hired last September after Wendy's split from fellow fast-food chain Arby's. The 63-year-old Brolick has been on a mission to reinvent Wendy's as a higher-end burger chain by improving ingredients and remodeling restaurants.
An Associated Press analysis of a regulatory filing finds Brolick's compensation included salary of $338,462, a bonus of $500,000, stock and option awards worth $3.2 million and an incentive-based bonus of $533,026.
Other compensation covered legal expenses related to the negotiation of his contract.
Wendy's previous CEO, Roland Smith, received $16.5 million for the first part of 2011, including $11.3 million in severance pay.
The AP's calculation includes salary, bonuses, perks and stock and option awards.
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