Planning a move?

July 14, 2004

HB Fuller’s (FUL) Chairman and CEO, Albert Stroucken, 56, who joined the company in 1998, has inked a new contract, according to the company’s recent Q. Though the raise in base pay to $779,000 works out to a relatively modest increase since the last contract was signed six years ago, the bonus potential in the new contract is much larger: 150% of base pay this time around vs. only 100% in the 1998 contract. The contract, which is valid through March 2007, also contains an odd relocation clause that will cover the cost of Stroucken’s move to Pittsburgh, even though the company is based in St. Paul, Minn.

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