Fortune Brands Chief Sees Total Pay Decrease 12% In 2010

Fortune Brands Chief Sees Total Pay Decrease 12% In 2010

Chairman and Chief Executive Bruce Carbonari received total pay valued at $11.2 million in 2010, down from the $12.7 million he received in the prior year.The difference was mostly the result of lower stock awards in 2010. According to a proxy filing Golf Shopping Online May Save Money late Monday, Carbonari received $4.2 million in stock awards in 2010, compared with $7.04 million in 2009. Carbonari's 2010 base pay, at $ 1.13 million, was 3% higher than in the prior year.He didn't exercise any stock options but acquired 67,906 shares as options vested, with a total value of $4.05 million.Carbonari and Chief Financial Officer Craig Omtvedt, whose 2010 pay totaled $ 4.24 million, both had access to the company plane for personal use. They reimbursed Fortune Brands for the number of hours of personal flight time, though $11,733 of incremental expenses pub golf rules wasn't covered by Carbonari, and $816 wasn't covered by Omtvedt.Fortune Brands, whose products include Moen faucets, Titleist golf balls and Jim Beam bourbon, announced late last year it will sell or spin off its golf unit, spin off the home products business and become a pure-play liquor company.