Tiffany & Co. (TIF) Chief Executive Michael Kowalski was
paid $8.1 million in 2014, up about 32% from $6.1 million the year
before.
Mr. Kowalski's base salary stayed the same, at just under $1
million, and he did not receive any stock or option awards last
year. However, he received about $5.5 million in pension benefits.
In 2013, he didn't receive pension benefits.
The New York-based luxury jewelry retailer has posted
disappointing results lately. It experienced lackluster sales over
the holidays, and in January warned that the stronger dollar would
weigh on its profit for the year.
The downbeat news from Tiffany contrasted with results from
other retailers that have generally reported stronger-than-expected
holiday results, lifted by lower gasoline prices, falling
unemployment and an improving economy.
Shares of Tiffany's have fallen about 16% this year through
Thursday's close.
Write to Angela Chen at angela.chen@wsj.com
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