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Chairman Robert Haas received a $2.1 million payment, bringing his total compensation to $3.6 million, up 174 percent from the prior year.
William Chiasson, senior vice president and chief financial officer, and Joseph Middleton, senior vice president and president of Levi’s Europe, Middle East and Africa division, each received payments of $2.5 million. That brought Chiasson’s pay to $3.6 million, up 411 percent, and Middleton’s to $3.2 million, up 370 percent.
R. John Anderson, senior vice president and president of Levi’s Asia-Pacific division, received a $1.4 million payment. That brought his pay package to $2.2 million, up 281.2 percent.
Isaac Lagnado, president at Tactical.org, a New York retail consultancy, said the hefty payout sends “a contradictory message to what else is being done, particularly since the bulk of the strategic moves [Levi’s] has made over the last three years or so have been…draconian cost-cutting.”
As reported, the company since 1997 has closed 37 factories and laid-off 23,600 workers, as part of a shift towards sourcing from foreign contractors.
“To stop domestic manufacturing and sell Wal-Mart, that’s not brain science,” Lagnado said. “That’s a matter of ‘why did it take you so long?’”
The biggest wildcard in Levi’s performance this year will be the debut of the Levi Strauss Signature brand. Levi’s officials have projected annual sales in the hundreds of millions of dollars, but observers suggest that number could easily pass $1 billion.