Sears CEO: $9.9 Million In Compensation In 2011

By: AP
By: AP
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NEW YORK (AP) -- An Associated Press analysis shows that Sears Holdings Corp. paid its CEO, Lou D'Ambrosio, $9.9 million last year including incentives the ailing department store chain offered the former technology executive.

The company said in a filing Friday with the Securities and Exchange Commission that D'Ambrosio, who became CEO in 2011, received a salary of $930,769 plus a $150,000 signing bonus and $8 million worth of stock.

His compensation also included $803,856 to cover his commute by air and ground from the Philadelphia area, where he lives, to Hoffman Estates, Illinois, where the company is based.

Sears, whose brands include Lands' End and Kmart, as well as Sears, Roebuck, has struggled for years with stiffening competition from retailers of all stripes, from Wal-Mart Stores Inc. to Home Depot Inc.

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