Haverty Furniture Companies Partially Reverses Executive Pay CutsPosted: December 4, 2009
The rollback of recession-driven, executive pay cuts continues. In a December 3 SEC filing, Haverty Furniture Companies, Inc. announced that 2010 will bring a rollback of most of the 20% voluntary pay cut instituted in May, 2009 for the CFO and CEO. The new salaries will only be “…3% below the 2008 levels and are commensurate with the base salaries received for fiscal year 2007.” The CEO’s salary will go from $372K to $450K. The CFO’s salary will increase from $272K to $330K.