So what is a company to do when shareholders are clamoring for a change in management and a stronger showing on Wall Street?
Well, if the company is Oak Brook-based WMX Technologies Inc., the nation’s largest trash hauler, it gives its top executives hefty salary increases, generous stock options and so-called golden-parachute agreements.
According to a recent Securities and Exchange Commission filing, chief executive Phillip Rooney has received a new five-year contract with a minimum annual salary of $1.25 million, a 25 percent increase, and options to buy 350,000 WMX shares.
Chief financial officer James E. Koenig and general counsel Herbert A. Getz received three-year contracts with double-digit raises, restricted stock and golden-parachute agreements.
Billionaire George Soros, whose Soros Fund Management in New York holds about 4.6 percent of WMX stock, has previously threatened stockholder action to force a management change.
