Mccormick & Co CEO Lawrence Kurzius' 2020 pay jumps 53% to $20M
Mccormick & Co reports 2020 executive compensation
By ExecPay News
Published: February 17, 2021
Mccormick & Co reported fiscal year 2020 executive compensation information on February 17, 2021.
In 2020, five executives at Mccormick & Co received on average a compensation package of $8.6M, a 60% increase compared to previous year.
Lawrence E. Kurzius, Chief Executive Officer, received $20M in total, which increased by 53% compared to 2019. 34% of Kurzius' compensation, or $6.6M, was in option awards. Kurzius also received $253K of change in pension value and nonqualified deferred compensation earnings, $6M in non-equity incentive plan, $1.3M in salary, $4.8M in stock awards, as well as $639K in other compensation.
For fiscal year 2020, the median employee pay was $33,387 at Mccormick & Co. Therefore, the ratio of Lawrence E. Kurzius' pay to the median employee pay was 585 to one.
Brendan M. Foley, President, Global Consumer, Americas and Asia, received a compensation package of $6.9M, which increased by 78% compared to previous year. 38% of the compensation package, or $2.6M, was in option awards.
Michael R. Smith, Chief Financial Officer, earned $6.9M in 2020, a 49% increase compared to previous year.
Malcolm Swift, Chief Administrative Officer, received $5.1M in 2020, which increases by 58% compared to 2019.
Jeffery D. Schwartz, General Counsel, earned $4.3M in 2020, a 86% increase compared to previous year.
Mccormick & Co's fiscal year ends on November 30.