NEW YORK, March 9 Black & Decker Corp BDK.N
CEO Nolan Archibald could win a pay package worth more than $89
million if company investors approve the company's proposed
acquisition by rival toolmaker Stanley Works (SWK.N), according
to the New York Times.
The pay package for Archibald, who owns about 1 percent of
the company he has led since 1986, is unusual for its potential
size, as well as for its composition, according to compensation
specialists cited by the report.
Mark Reilly, a Chicago compensation consultant, estimated
Archibald's pay package could be worth more than $89 million
after three years, the Times said. The report said some
compensation specialists cited concerns about the way Black &
Decker's board reviewed the package.
Stanley Works struck a deal to buy rival Black & Decker
Corp BDK.N for $3.46 billion in stock in November.
Black & Decker could not immediately be reached for comment
outside regular U.S. working hours.
(Reporting by Ransdell Pierson; Editing by Lincoln Feast)