Leggett & Platt reports mixed bag in executive compensation

SBJ file

CEO Mitch Dolloff remains the company's highest-paid employee.

Carthage-based manufacturer Leggett & Platt Inc.'s (NYSE: LEG) recently released annual proxy filing shows a mixed bag in executive compensation during 2023.

Three of the company's top six executives had decreases in total compensation, and two had increases. One did not have prior-year data as a comparison due to starting in his executive role during 2023.

President and CEO Mitch Dolloff remained the highest-paid executive at Leggett & Platt, with 2023 total compensation of $7.3 million. That was down from $7.6 million in 2022.

Combined, the top executives at Leggett & Platt last year had total compensation of $16.8 million, according to the filing with the U.S. Securities and Exchange Commission.

Leggett & Platt's top executives, by 2023 total compensation reported in the proxy filing, are below:
• Dolloff, $7.3 million, down 3.9%.
• Jeffrey Tate, executive vice president and chief financial officer through June 21, 2023 , $2.6 million, up 1.4%.
• Steven Henderson, executive vice president and president of specialized products and furniture, flooring and textile products, $2.4 million, up 4.8%.
• Tyson Hagale, executive vice president and president of bedding products, $1.7 million, down 9%.
• Scott Douglas, senior vice president, general counsel and secretary, $1.7 million, down 2.6%.
• Benjamin Burns, executive vice president and CFO since June 21, 2023, $1.1 million, prior-year data unavailable.

Tate was succeeded in summer 2023 by Burns, Springfield Business Journal previously reported.

During 2023, Leggett & Platt reported a net loss of $136.8 million, which compares with net income of $309.8 million in 2022, according to past reporting.

LEG shares were trading at $18.94 as of 10 a.m., compared with a 52-week range of $17.81 to $33.50 per share.