An announcement from Leggett & Platt (LEG) is now available.
Steven K. Henderson, an executive at a prominent company, has announced his retirement effective April 1, 2024, with R. Samuel Smith, Jr. poised to take over his role. J. Mitchell Dolloff, the CEO, will temporarily oversee the Specialized Products segment. The company’s Human Resources and Compensation Committee approved the 2024 base salaries for its top executives, maintaining the CEO’s salary at $1,120,000, while the CFO received a raise from $500,000 to $550,000. Additionally, the company updated its Key Officers Incentive Plan, including revised targets for cash incentives based on EBITDA and Cash Flow achievements. Equity-based long-term incentive awards were also set, with a focus on performance stock units and restricted stock units determined by the executives’ annual base salaries.
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