General Mills CEO Jeffrey Harmening's 2022 pay falls 21% to $12M
General Mills reports 2022 executive compensation
By ExecPay News
Published: August 8, 2022
General Mills reported fiscal year 2022 executive compensation information on August 8, 2022.
In 2022, six executives at General Mills received on average a compensation package of $5M, a 14% decrease compared to previous year.
Average pay of disclosed executives at General Mills
Jeffrey L. Harmening, Chief Executive Officer, received $12M in total, which decreased by 21% compared to 2021. 44% of Harmening's compensation, or $5.4M, was in stock awards. Harmening also received $533K of change in pension value and nonqualified deferred compensation earnings, $3.6M in non-equity incentive plan, $1.3M in option awards, $1.3M in salary, as well as $251K in other compensation.
For fiscal year 2022, the median employee pay was $62,454 at General Mills. Therefore, the ratio of Jeffrey L. Harmening's pay to the median employee pay was 196 to one.
Jonathon J. Nudi, Group President, received a compensation package of $4.7M, which decreased by 17% compared to previous year. 40% of the compensation package, or $1.9M, was in stock awards.
Kofi A. Bruce, Chief Financial Officer, earned $4.3M in 2022, a 25% increase compared to previous year.
John R. Church, Former Chief Transformation & Enterprise Services Officer, received $3.3M in 2022, which decreases by 15% compared to 2021.
Jaime Montemayor, Chief Digital and Technology Officer, earned $2.8M in 2022, a 7% increase compared to previous year.
Richard C. Allendorf, General Counsel, received $2.8M in 2022, which decreases by 30% compared to 2021.
General Mills' fiscal year ends on May 30.
Related executives
Jeffrey Harmening
General Mills
Chief Executive Officer
Jonathon Nudi
General Mills
Group President
Kofi Bruce
General Mills
Chief Financial Officer
Jaime Montemayor
General Mills
Chief Digital and Technology Officer
Richard Allendorf
General Mills
General Counsel
John Church
General Mills
Former Chief Transformation & Enterprise Services Officer
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Source: SEC filing on August 8, 2022.