Wal-Mart cuts CEO's pay 73 percent in 2013

Wal-Mart cuts outgoing CEO's pay 73 percent to $5.6 million in 2013

Associated Press

NEW YORK (AP) -- The pay of Wal-Mart Stores Inc.'s outgoing CEO fell 73 percent in 2013 because he didn't get stock awards that are given in anticipation of future performance as well as a lower performance-based bonus.

The world's largest retailer gave Duke, 64, a compensation package worth about $5.6 million including a base salary of $1.4 million and a performance-based bonus of $2.8 million for the fiscal year that ended on Jan. 31.

Other compensation totaled $490,090, including retirement contributions and $144,586 for personal use of company aircraft.

The AP's calculation counts salary, bonuses, perks and stock and options awarded to the executive during the year.

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