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Article: Earthgrains CEO Says He'll Stay On to Run Division for Sara Lee.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- July 14, 2001
CopyrightCOPYRIGHT 2001 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Jerri Stroud, St. Louis Post-Dispatch Knight Ridder/Tribune Business News
Jul. 14--Earthgrains Co. chief executive Barry H. Beracha says he won't exercise a "golden parachute" that could give him three times his average salary and bonus after Sara Lee Corp. completes its purchase of the St. Louis-based baking company.
Instead, Beracha will stay on to run Earthgrains as part of Sara Lee's bakery operations.
Beracha will get nearly $50 million from exercising stock options and selling the 717,914 shares of Earthgrains stock he owns outright. He spoke Friday at the company's annual meeting at the Missouri History Museum.
Earthgrains ...