12/98
It Could Have Been Worse 

Sure Northland Cranberries Inc. stock tumbled to its lowest point in a year last week, and the company expects disappointing earnings in its first quarter.

But at least their CEO and board members are getting big raises.

Company founder John Swendrowski a former high school football  coach turned CEO, got an 18% pay raise in the fiscal year that ended Aug. 31. The boost brought his pay up to $390,000, according to filings the $113-million-in-sales company made with federal regulators.

And the board of the Wisconsin Rapids firm, which met four times last year, boosted its pay to outside members by 25%. Members of the board that includes University of Wisconsin athletic director Pat Richter, Associated Banc-Corp vice chairman John Seramur and Patrick Brennan, retired Consolidated Papers Inc. CEO, will now, get, $15,000, plus $500 for each board or committee meeting they attend.

Cary Spivak and Dan Bice can be contacted by phone at 223-5468 or e-mail at sb@onwis.com.
Reprinted with permission of the Milwaukee Journal-Sentinel


 
 

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