PPG Industries Inc. Chairman Raymond W. LeBoeuf received a nearly 8 percent increase in his base salary in 2003, plus an increased bonus and a substantial hike in other compensation.
According to a proxy statement filed with the Securities and Exchange Commission Thursday in advance of the Pittsburgh-based company's April 15 annual meeting, LeBoeuf earned $950,000 in base salary, up from $880,000 in 2002, when his compensation was affected by a management salary freeze. His 2003 bonus was $1.4 million, up from $1.2 million in 2002. In addition, he received about $6.3 million in other compensation last year, the bulk of which was a payout of about $5.7 million from the company's long-term incentive plan.