Allstate boosts CEO pay as stock drops
Published 5:00 am Saturday, April 3, 2010
NEW YORK — Allstate, the largest publicly traded home and auto insurer, said CEO Tom Wilson’s compensation rose 31 percent as the company’s stock declined for a third straight year. Wilson’s package for 2009 was $10.4 million, compared with $7.96 million a year earlier, the Northbrook, Ill.-based firm said Thursday in a regulatory filing. His cash incentive compensation more than doubled to $1.71 million. Allstate shares fell 8.3 percent last year, compared with a 26 percent gain in the 24-stock KBW Insurance Index. The stock has dropped each year Wilson’s been CEO.