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Eastman Chemical CEO's Compensation Drops In 2008

Stock quotes in this article: DOW , EMN  

ERNEST SCHEYDER

NEW YORK (AP) — The chairman and chief executive of Eastman Chemical Co. received compensation valued at $6.3 million in 2008, a nearly 20 percent increase from the previous year, according to an Associated Press calculation of figures disclosed in a regulatory filing.

The Kingsport, Tenn.-based company paid J. Brian Ferguson a salary of $1.1 million, down less than 1 percent from the previous year, and a performance-related cash bonus of $925,000, down 38 percent year over year.

The drop in performance-related cash bonus was largely due to the Eastman Chemical's failure to meet certain earnings targets, the company said. ...

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