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Haverty CEO compensation rises


Atlanta Haverty Furniture Cos., which reduced its annual loss in 2009, awarded president and CEO Clarence H. Smith a 12% boost in total compensation.

The company reported in a proxy filing with the Securities and Exchange Commission that it gave Smith $750,984 in total compensation last year, compared with $670,537 in 2008. The difference was due mostly to $106,425 in non-equity incentive plan compensation (a form of bonus), compared with none in 2008.

The total comp for 2009 also included a salary of $403,125 (down from $465,000 in 2008) and $167,540 in stock awards.

In 2009, Haverty cut its net loss to $4.2 million as sales fell 15% to $588.3 million.

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