USA: Levi Strauss Pays CEO More Than FY Profit
Jeans giant Levi Strauss & Co paid its chief executive Phil Marineau $25.1 million (£16m) in 2002 - more than its entire profit for the year. According to a filing with the US Securities & Exchange Commission, Marineau collected a $22.5m bonus as he oversaw a major restructuring exercise which included the axing of eight factories and nearly 4,000 jobs.
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