From Pine View Farm

Toll Piazza 2

As my old boss would have said, this is not right:

A firm that advises investors on corporate-governance issues said yesterday that Robert I. Toll, the chairman and chief executive officer of Toll Bros. Inc., a builder of luxury homes, was overpaid.

(snip)

In the February proxy statement, Toll, 66, was listed as making $29.3 million for the year ended Oct. 31. Of that, $10.1 million was exercised stock options, a $17.5 million bonus, and $1.3 million in base pay.

$1.3 million in base pay should be enough for building little–well, big–boxes made out of ticky tacky, little big boxes all the same.

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2 comments

  1. Opie

    February 27, 2007 at 8:10 pm

    It’s an interesting story, but they left out some things I wonder about: what is Proxy Governance, Inc.’s interest in this matter? Why do they care to opine on what this man makes? I assume they don’t just go around doing this stuff for free, but it doesn’t say who is paying them.

    A couple of very long-shot guesses: SEC or someone requires these firms to be hired, like they require CPA’s, or maybe a major stockholder wants more control in the company and hired them because he has it in for the CEO.

     
  2. Frank

    March 1, 2007 at 6:09 pm

    Well, here’s what they say about themselves. Beyond that I do not know.