*NEWS*STAPLES CEO RECEIVES A $2.4M BONUS

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*NEWS*STAPLES CEO RECEIVES A $2.4M BONUS

 user 2006-03-15 at 11:48:00 am Views: 70
  • #14825

    Staples CEO receives bonus for banner ’05
    Staples Inc. CEO and chairman Ron Sargent earned $2.4 million in base salary and cash bonuses in fiscal 2005, having led office supply giant to a banner year.
    Based on the company’s bonus criteria — earnings per share (40 percent), return on net assets (40 percent) and customer satisfaction (20 percent) — Sargent still fell short of his 2004 cash bonus of $1.7 million. The payment criteria is determined each year by Staples’ compensation committee.
    Staples earnings per share in fiscal 2005, which ended Jan. 28, were $1.14, a 20 percent improvement over the 95 cents per share booked in fiscal 2004. The company had 829 million common shares outstanding in fiscal 2005, compared to 813 million in 2004.
    Likewise, Staples generated a 19 percent return on net assets for the year, a slight improvement over the 17 percent return generated in 2004, according to SEC filings.
    In its annual report, Staples  did not provide data regarding customer satisfaction surveys for the year. The company’s sales during the 12-month span were $16.1 billion, an 11 percent gain over the $14.5 billion booked the prior year.
    Sargent’s cash bonus is capped each year at 250 percent of his annual salary, meaning it could reach as high as $2.75 million for fiscal 2006.