Nike Inc.’s CEO Mark Parker saw his compensation fall 16 percent to about $11 million during fiscal 2011 largely due to a drop in his pay based on the company’s performance, which has hurt during the recession.
Parker has helped lead the world’s largest athletic shoe and clothing company through some of its most profitable years. But the Beaverton, Ore., company didn’t grant any of its executives long-term incentive pay in the 2011 fiscal year because of the company’s performance during the three years prior, which was dampened by a combination of the economic downturn and costs from its acquisition of soccer goods maker Umbro PLC.
Nike weathered the tough economic times better than others. Its revenue slowed during the downturn but it remained profitable as consumers continued to flock to its popular brand worldwide.
Associated Press
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