Former Kraft unit head to get $1.88 million severance
Oct. 24, 2006
(AP) — Kraft Foods Inc. said Tuesday that David S. Johnson, the former president of the Kraft North America Commercial unit, will receive a $1.88 million severance payment.
According to a filing with the Securities and Exchange Commission, Johnson will also receive a lump sum equal to six months of his base salary by May 10, and his salary for 12 months from May 1 to April 30, 2008.
Johnson received a $626,385 base salary for 2005, according to a company proxy from March.
Kraft said in a press release last month that Johnson was leaving "to pursue his own career aspirations."
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