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Sears Interim CEO Earns 20% Less
CHICAGO (AP) -- The Associated Press has found compensation for Sears Holdings' interim CEO fell more than 20 percent in 2009. The decrease came as sales slipped and the company cut costs.

W. Bruce Johnson's total pay in fiscal 2009 was $1.5 million. That's down from $1.9 million the year before.

Full-year sales slipped 6 percent at the retailer that owns Kmart and Sears. But late in the year sales started to improve. And the company's fourth-quarter profit was its best in at least four years.

The AP's executive pay calculation, based on a regulatory filing, aims to isolate the value the company's board placed on the CEO's total compensation package. The figure includes salary, bonus, incentives, perks and the estimated value of stock options and awards.

(Copyright 2010 by The Associated Press. All Rights Reserved.)
04 06 10 by Newsroom
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