Multi-Color executives get raises
Written on April 15, 2008
Directors of Multi-Color Corp. approved 7-to-15 percent salary increases for the label maker's CEO and other executives.
The company's compensation committee on April 8 approved the raises. They include a 15 percent increase for CEO Frank Gerace, to $550,160 from $478,400; a 12 percent increase for Chief Financial Officer Dawn Bertsche, to $280,000 from $249,600; a 7 percent raise for Donald Kneir, president of the North American Business Unit, to $300,000 from $280,800; and an 8 percent raise for James Reynolds, chief accounting officer to $216,000 from $200,200.
The committee also approved the award of stock options to Kneir and Reynolds, of 25,000 and 10,000 shares, respectively absolutely free credit report.
The fiscal year at Sharonville-based Multi-Color (NASDAQ: LABL) ended March 31 and the company is expected to post its annual earnings report by late April. In the third quarter, its income rose to $2.1 million, or 21 cents a share, from $1.5 million, or 15 cents a share, in the year-ago period. Sales advanced to $48.3 million from $47 million.
Filed in: economics.