Michael White, the PepsiCo vet who takes over as president and CEO of DirecTV (NYSE: DTV) Jan. 1, could make more than $35 million during his three-year contract, according to an SEC filing. His base salary is $1.5 million a year with up to 200 percent bonus based on meeting performance goals. Another $25 million is a three-year grant: half in stock options, half as performance restricted stock units, plus there’s the “usual” exec benefits. It’s a raise for White from PepsiCo, where he is retiring this year as vice chairman and CEO of PepsiCo International, especially if he hits all the numbers; his base salary there for the past three years was just under $3 million and his total package was just under $30 million.
By comparison, his predecessor Chase Carey made nearly $40 million from 2006 through 2008, roughly $6.65 million in salary with the rest in stock options, bonuses, etc. Carey’s new job, deputy chairman, president and COO of News Corp (NYSE: NWS). calls for as much as $43 million — in his first year.