A family of senior vice presidents…
Last year, Lifetime Brands (LCUT) disclosed for the first time a long list of relatives, including cousins and in-laws of Chairman, CEO, and President Jeffrey Siegel and former Chairman and CEO Milton Cohen who were drawing paychecks from the company. But other than a name and job title — many of them are senior vice presidents — it provided few details. However, the proxy filed yesterday provides details on the salaries paid to these relatives:
–Siegel’s cousin Craig Phillips made $365K as a senior vice president for distribution. Phillips has also been a director since 1973.
–Siegel’s son, Daniel, is a senior vice president for sales and made $461K last year.
–Siegel’s son-in-law, James Wells, is a senior vice president for sales and made $446K last year.
–Siegel’s son, Clifford, is a vice president for inventory forecasting and made $230K last year.
–Cohen’s son-in-law, Stuart Glickman, is a national sales manager and made $272K last year.
Needless, to say, that’s a lot of money going to a lot of family members. And a lot of senior vice presidents in one family.