Philip Morris Int'l's Camilleri made $20.2M in '11

Published April 3, 2012 1:54PM (EDT)

RICHMOND, Va. (AP) — Philip Morris International Inc. CEO Louis Camilleri received a pay package valued at more than $20.2 million in fiscal 2011, down slightly from fiscal 2010.

That's according to an Associated Press analysis of data filed by the overseas Marlboro cigarette maker filed with regulators.

Camilleri's salary increased slightly to $1.75 million and he received an $8.8 million performance-based bonus. The value of his stock options and awards fell 14 percent to $9.1 million.

Last year, Philip Morris International saw its net income rise 18 percent to $8.59 billion and its net revenue excluding excise taxes grew 14 percent to $31.1 billion. Shipments rose nearly 2 percent to 915.3 billion cigarettes.

The AP's calculation counts salary, bonuses, perks, stock and options awarded to the executive during the year.

By Salon Staff

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