The “exceptional” leadership shown by Irene Rosenfeld during Kraft Foods’ controversial takeover battle for Cadbury was behind a pay rise of more than 40% for the US group’s chief executive.
Rosenfeld pocketed $26.3m, according to the Financial Times, representing a hike of 41% over her pay the previous year.
Kraft said it had “heavily weighted the significant effort and the ultimate acquisition of Cadbury in assessing individual performance” of its top brass, singling out Rosenfeld’s “exceptional” leadership and “commitment to financial discipline”.
Kraft finally sealed its takeover of the Dairy Milk maker in January following a bitter war of words between senior management of the two companies.
Government places Kraft 'on report' (19 March 2010)
Kraft to outline plans for post-merger Cadbury (15 February 2010)
Kraft strong ‘with or without Cadbury’, says Rosenfeld (13 January 2010)