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Last year was Leggett & Platt Inc. (NYSE: LEG) executive Mitch Dolloff's first as CEO, and his compensation jumped accordingly.
Mitch Dolloff, who succeeded Karl Glassman as CEO on Jan. 1, 2022, had a 77% increase in total compensation last year, according to the company's latest proxy filing with the U.S. Securities and Exchange Commission.
Dolloff's total compensation was $7.6 million, up from $4.2 million in 2021. Glassman, who became executive chair when he relinquished the CEO job, saw his compensation drop by 66.5% to $3.1 million last year from $9.2 million in 2021, according to the SEC filing.
The company's top officers identified in the SEC report, by 2022 total compensation, are:
• Dolloff, $7.6 million, up 77%;
• Glassman, $3.1 million, down 66.5%;
• Jeffrey Tate, executive vice president and chief financial officer, $2.55 million, down 1.2%;
• Steven Henderson, executive vice president and president of specialized products and furniture, flooring and textile products, $2.29 million, down less than 1%;
• J. Tyson Hagale, executive vice president and president of bedding products, $1.9 million.
Hagale was not previously a named officer at the company, so his 2021 compensation is not disclosed in the proxy filing.
During 2022, Carthage-based manufacturer Leggett & Platt, reported a 23% drop in profits to $309.8 million, according to past reporting.
LEG shares were trading at $30.92 as of 9:36 a.m., just above the 52-week low of $30.05 per share notched on March 24. The stock's 52-week high is $41.94 per share.
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