Kroger CEO Earns $9M

Cincinnati Kroger Co. chairman and CEO David B. Dillon received a 22% compensation hike in 2007, a year where the grocer saw its profits edge higher despite fierce competition, according to analysis of a regulatory filing Thursday.

Dillon's compensation was valued at $9.09 million, up from $7.47 million in 2006.

The filing Thursday with the Securities and Exchange Commission showed Dillon's salary at $1.18 million, a 2.5% raise over 2006, with incentive compensation of $2.32 million, stock awards valued at $5.4 million and other compensation of $168,543, including life-insurance premiums, tax offsets, use of company aircraft and membership at a business lunch club.

Kroger profits for 2007 were $1.18 billion up from $1.11 billion or $1.54, a year earlier. Sales climbed more than 6%, to $70.2 billion.