Corning Boosts CEO's Compensation

WASHINGTON, May 4 -- Corning Inc. nearly tripled a compensation package last year for its top executive, Roger Ackerman, the company said in a proxy statement filed on Wednesday. Excluding stock options, Ackerman, who is the company's chief executive and chairman, was paid a total of $7 million in 2000, compared with his 1999 compensation of $2.4 million.
"The (compensation) committee assessed Mr. Ackerman's individual performance as highly effective in the overall achievement of a second consecutive year of record earnings and growth," the company said in the annual report to shareholders. "The committee believes that Mr. Ackerman has contributed to Corning's continuing financial success as measured by earnings per share."