Weyerhaeuser Ceo Takes 19.7% Pay Cut

Thu., March 6, 1997

Compiled From Wire Services

Sinking in tandem with the price of paper and forest products, the pay package of Weyerhaeuser Co.’s top executive fell 19.7 percent in 1996, mostly because of a reduction in his bonus, Dow Jones News Service reported.

President and chief executive John Creighton’s base salary and bonus totaled $1.25 million in 1996 from $1.56 million a year earlier, according to a proxy statement filed with the Securities and Exchange Commission.

Though Creighton’s salary rose to $862,055 from $806,480, his bonus plummeted to $388,500 from $750,000, according to the filing.

“In 1996, the company achieved earnings levels below target due to weaker pricing and markets in several major product lines,” Weyerhaeuser said in the filing.

Creighton’s bonus represented 74 percent of his target award.

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Weyerhaeuser Ceo Takes 19.7% Pay Cut

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