Glenview, Ill., Sept. 24, 2018 — Glenview, Illinois-based General Mills Co. (GM) will pay its CEO $1,890,000 in cash bonuses and stock options over the next two years.CEO Michael Pomerantz will receive $750,000 for the first three years of his tenure.
He will receive a second $400,000 bonus in 2019 and a third $250,000 on Nov. 30, 2020.GM’s annual bonus pool will reach $2.3 billion in 2020, the company announced on Friday.
Pomerantz is the fifth CEO in GM’s nearly 70-year history to receive a $1 million bonus.CEO Tim Johnson received $1 in 2016, $500,000 last year and $1 billion in cash in 2017.
Johnson’s total compensation was $2 million.
Johnson also will receive additional cash compensation in the next four years.