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Caribou Coffee paid CEO $1.5 million in 2009


Minneapolis Caribou Coffee Co. paid CEO Michael Tattersfield $1.5 million in 2009, which was his first full year leading the company.

Tattersfield, president and CEO of the Caribou since August 2008, earned a base salary of $441,346 in 2009, according to a proxy filed with the Securities and Exchange Commission Wednesday. He also received $429,000 in stock awards and $662,019 in cash bonuses.

Caribou paid CFO Timothy Hennessy, who was hired one month after Tattersfield, $941,261 in 2009.

The company last month reported profits of $5.1 million for 2009 after a $16.3 million loss in 2008. Net sales increased by 3.4% from $253.9 million in 2008 to $262.5 million in 2009.

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