New Wal-Mart CEO gets $25.6M pay package

Everyday low prices at Wal-Mart Stores Inc. (NYSE: WMT) doesn't mean everyday low salaries for Wal-Mart executives.

Officially taking the reins of the Bentonville-Ark.-based company Feb. 1, total compensation for Wal-Mart CEO Doug McMillion shot up 168 percent to $25.6 million for the fiscal year ended Jan. 31.

Arkansas Business reports McMillon, who was an executive vice president during the fiscal year, received stock awards of $23 million, according to the company's annual proxy statement filed with the U.S. Securities & Exchange Commission.

Nearly all company top executives' compensation climbed in fiscal 2014 as a result of stock awards, according to Arkansas Business.

Compensation for Executive Vice President and CFO Charles M. Holley Jr. increased to $8.2 million from $6.6 million; Executive Vice President Bill Simon increased to $13.1 million from $11.2 million; and Executive Vice President Neil Ashe moved up 58 percent to $13.2 million.

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