Mohawk's billionaire CEO leads carpet maker to record profits, receives big pay boost
After joining the ranks of America's billionaires last year, Mohawk Industries CEO Jeffrey Lorberbaum also got a 21.9 percent boost in his compensation last year.
According to the notice of Mohawk's annual meeting released today, Lorberbaum was paid more than $5.2 million in 2013, up from just below $4.3 million the previous year and nearly double the $2.7 million he was paid in 2011.
Lorberbaum, the 59-year-old head of the world's biggest floorcovering show, helped boost profits and revenues for Mohawk to record levels in 2013 after a series of acquisitions over his 38 years with the company. Forbes magazine recently named Lorberbaum one of America's newest billionaires, putting his net worth at $1.6 billion.
Mohawk's No. 2 executive, company president W. Christopher Wellborn, got an 18.2 percent boost in his pay last year, swelling his compensation package to nearly $4.4 million. Pay for Mohawk Chief Financial Officer Frank Boykin was increased in 2013 by by 17.5 percent to more than $2.3 million
Sunday, August 20 2017 3:21 PM EDT2017-08-20 19:21:22 GMT
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