Cliffs Natural Resources CEO Joseph Carrabba's 2007 pay jumps 333% to $10M
Cliffs Natural Resources reports 2007 executive compensation
By ExecPay News
Published: March 26, 2008
Cliffs Natural Resources reported fiscal year 2007 executive compensation information on March 26, 2008.
In 2007, eight executives at Cliffs Natural Resources received on average a compensation package of $3.8M, a 36% increase compared to previous year.
Average pay of disclosed executives at Cliffs Natural Resources
Joseph A. Carrabba, Chief Executive Officer, received $10M in total, which increased by 333% compared to 2006. 81% of Carrabba's compensation, or $8.5M, was in stock awards. Carrabba also received $160K of change in pension value and nonqualified deferred compensation earnings, $1.1M in non-equity incentive plan, $675K in salary, as well as $63K in other compensation.
Donald J. Gallagher, President, North American Business Unit, received a compensation package of $4.3M, which increased by 121% compared to previous year. 67% of the compensation package, or $2.9M, was in stock awards.
Laurie Brlas, Chief Financial Officer, earned $3.6M in 2007, a 694% increase compared to previous year.
William R. Calfee, Executive Vice President, Commercial, North American Iron Ore, received $2.8M in 2007, which increases by 4% compared to 2006.
William A. Brake, Executive Vice President, Human & Technical Resources, earned $2.8M in 2007.
Ronald G. Stovash, Chief Executive Officer, received $2.8M in 2007.
David H. Gunning, Chairman, earned $1.9M in 2007, a 30% decrease compared to previous year.
Randy L. Kummer, Senior Vice President, Human Resources, received $1.3M in 2007, which increases by 3% compared to 2006.
Related executives
Randy Kummer
Cliffs Natural Resources
Senior Vice President, Human Resources
Ronald Stovash
Cliffs Natural Resources
Chief Executive Officer
David Gunning
Cliffs Natural Resources
Chairman
Joseph Carrabba
Cliffs Natural Resources
Chief Executive Officer
Laurie Brlas
Cliffs Natural Resources
Chief Financial Officer
Donald Gallagher
Cliffs Natural Resources
Executive Vice President and President, Global Commercial
William Brake
Cliffs Natural Resources
Executive Vice President, Human & Technical Resources
William Calfee
Cliffs Natural Resources
Former Executive Vice President, Commercial Projects
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Source: SEC filing on March 26, 2008.