PORTLAND, Ore. (AP) — Nike Inc. reduced the compensation for its CEO Mark Parker by 16 percent to about $11 million during fiscal 2011.
A recent regulatory document shows that the athletic shoe and clothing maker increased Parker’s salary, his perks and held the value of his stock awards steady. But the company reduced his pay based on the company’s performance, which has been dampened during the economic downturn.
Nike weathered the tough economic times better than others and the company reported a 23 percent increase in its most recent fiscal year net income to $2.13 billion. But the cumulative three-year growth used to measure performance pay for executives fell short of the company’s goals.
The AP’s calculation counts salary, bonuses, perks and stock and options awarded to the executive during the year.