Business Services Industry
Heinz Initiates Stock Grants to Retain Executives.
Knight Ridder/Tribune Business News, August, 2002
By Teresa F. Lindeman, Pittsburgh Post-Gazette Knight Ridder/Tribune Business News
Aug. 6--The H.J. Heinz Co. will introduce restricted stock grants as a carrot to hang onto its executives, but the Pittsburgh condiment giant isn't quite ready to go the next step -- counting stock options as an expense on its balance sheet.
"That's still something under active consideration," said Heinz spokeswoman Debbie Foster.
Outrage over corporate accounting scandals and the well-compensated executives behind them has fueled national calls for changes in stock option accounting. Congress decided this summer not to touch the issue but a number of companies, including Coca-Cola and General Electric, have gone ahead on their own.
Heinz is...
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