Mohawk boosts pay for CEO Jeff Lorberbaum

Mohawk boosts pay for CEO Jeff Lorberbaum

April 4th, 2012 by Staff Report in Business Around the Region

Jeff Lorberbaum

Mohawk Industries Inc., boosted the compensation of CEO Jeff Lorberbaum by nearly 26 percent last year after the Calhoun, Ga.-based carpet maker boosted its profits from ongoing operations last year by 16 percent.

In a notice of the company's May 9 annual meeting filed Tuesday, Mohawk said Lorberbaum was paid total compensation in 2011 of more than $2.75 million, or $561,996 more than what he was paid in 2010. As CEO of one of the world's largest floorcovering companies, Lorberbaum helped Mohawk pare expenses last year while net income, excluding extraordinary items, rose to $202 million on sales of $5.6 billion.