Kraft Freezes Top Executives' Salaries

The food industry giant will freeze the salaries of Chief Executive Irene Rosenfeld and 18 other top managers in 2009, though remaining employees will receive raises.

 The decision to freeze the salaries of
Rosenfeld, her executive team, regional and business unit presidents,
and some other top managers, was announced as Rosenfeld asked
employees to be prudent with spending during a time of economic
turmoil.
But she also wanted to assure Kraft's roughly 100,000
employees that almost all would receive raises following a year when
the company posted an 18.5 percent rise in earnings per share and a
4.4 percent increase in revenue before acquisitions.