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2000 CFO Pay: Staples’ Mahoney Earned More Than $1.2 Million

Also, the compensation of two other CFOs.
Michelle GabrielleMay 11, 2001

Staples, Inc.’s EVP, CFO, and chief administration officer John J. Mahoney took home more than $1.2 million in total compensation in 2000, according to the company’s recently released proxy.

Mahoney received $482,050 in salary, $121,278 in bonus, and $19,187 in other compensation. He was also awarded $638,437 in restricted stock at the Framinghouse, Mass.-based office supply superstore company. Total Compensation: $1,260,952.

In 1999, Mahoney received $463,000 in salary, $261,413, in bonus, and $41,876 in other compensation. He was awarded restricted stock in that year, too, in the amount of $933,750, which brought his total compensation to $1,700,039 for 1999.

In both years, “other compensation” included an actuarial equivalent benefit to Mahoney from payment of annual premiums by the company under a split dollar insurance program.

Mahoney has served as EVP and CFO since September 1996. He was given the added title of chief administrative officer in October 1997. Previously, he served as EVP and CFO at Hill, Holliday, Connors, and Cosmopulos, an advertising agency. He had also served as a partner with Ernst & Young LLP, where he served in various capacities in its accounting and auditing groups from 1975 to June 1996.

In 2000, Staples earned $315 million on $8.9 billion in revenue, compared to $185.4 million on $7.1 billion in 1999.

Elsewhere:

  • Swiss Army Brands, Inc.’s SVP, CFO, secretary and treasurer, Thomas M. Lupinsky, took home $197,400 in total compensation, according to the company’s recently released proxy.

He received $174,000 in salary, $20,000 in bonus, and $3,400 in other compensation at the Shelton, Conn.-based maker of watches, cutlery, and travel gear.

In 1999, he received $165,000 in salary, $25,000 in bonus, and $3,200 in other compensation. Total Compensation: $193,200.

Lupinski has served as SVP and CFO of the company for more than five years. He first joined Swiss Army Brands in January 1986 as controller. Prior to that, he was finance manager for the Revlon Health Care Group from 1982 to 1986 and was with Arthur Andersen & Co. from 1976 through 1982.

In 2000, the company earned $2 million on $132 million in revenue, compared to just $100,000 on $129.5 million in revenue in 1999.

  • Trico Marine Services, Inc.’s VP, CFO, and treasurer Victor M. Perez took home $826,110 in total compensation, according to the company’s proxy.

A big bulk of it–$638,640—came from exercising options. He also received $150,000 in salary, a $35,000 bonus, and $2,470 in other compensation at the Houma, La.-based provider of supply vessels.

In 1999, Perez earned $150,000 in salary but did not receive a bonus. He did take home $3,708 in other compensation. Total Compensation: $153,708

Perez has served as the company’s VP, CFO, and treasurer since February 1995.

In 2000, the company experienced a $12.7 million loss on $132.9 million in revenue, compared to a loss of $33.4 million and $110.8 million in revenue in 1999.