Human Capital & Careers

Cendant CFO Receives $11 Million

Recent proxies show CFO Ronald Nelson was awarded $8 million in restricted stock by Cendant, despite a plunging bonus, while Symantec CFO James A. ...
Stephen TaubJuly 27, 2006

Ronald Nelson, president and chief financial officer of Cendant Corp., earned about $11 million last year, according to a company proxy statement released Wednesday.

This included $8 million in restricted stock awards, double what he received the prior year.

His salary was $762,500, same as the prior year, while his bonus fell more than 40 percent, to $1.3 million.

Nelson, who will serve as chairman and CEO of the new vehicle services company when the company separates into four publicly owned, pure play companies in the third quarter of 2006, also received nearly $762,000 in “other annual compensation,” including $221,914 for payment or reimbursement of residential relocation expenses.

According to another proxy statement released this week, James A. Beer, who joined Symantec Corp. as chief financial officer in February 2006, earned about $4 million for the fiscal year, which ended the month after he arrived, according to the company’s proxy.

This sum includes a hiring bonus of $2 million and $1.7 million in restricted stock awards. The restricted stock units will vest in four equal annual installments over a four year period beginning on March 3, 2007, according to the company’s proxy.

His pro-rated salary worked out to $54,167.

Beer also earned more than $290,000, which includes payment of relocation expenses of $285,718 incurred in fiscal year 2006.

He also took home roughly $800,000 in salary, restricted stock and realized gains from exercising options, from his prior employer last year.