Kohl's CEO gets $11.64M

New York City Kevin Mansell, president and CEO of Kohl's, received compensation last year valued at $11.64 million, the bulk of which was stock compensation that came when he was promoted to CEO last summer, according to an Associated Press calculation of figures disclosed in a regulatory filing.

Larry Montgomery, the chairman of Kohl's Corp. who gave up the title of CEO in August, received compensation last year valued at $4.65 million.

Mansell received a salary of $1.07 million, but like Montgomery, didn't receive a bonus because the company said that its financial performance in 2008 was below what was projected at the beginning of the year, according to the filing.

Kohl's announced in February that its fourth-quarter profits fell 18% and sales fell 5%.