NEW BRITAIN, Conn. — CEO John Lundgren was not the highest paid officer at Stanley Black & Decker last year. That distinction instead went to executive chairman Nolan Archibald, who made $52.5 million last year before stepping down in March 2013. Stanley Black & Decker is just among the latest of several companies whose CEOs don’t take home the top compensation, Business Week reports.
“The future performance of Stanley Black & Decker will tell us if this bonus was for actions that contributed to the long-term success of the company or if this was nothing more than a contractual agreement entered into at the time of the merger,” said compensation consultant Frank Glassner. Archibald had been credited with more than $350 million in savings as a result of Stanley’s acquisition of Black & Decker.