24/7 Wall St. Most Overpaid CEO Of The Day: Pier 1 (PIR) CEO Alex Smith

Investing

Published: September 3, 2008 10:03 am

Last Updated: April 27, 2020 2:55 pm

House Pier 1 Imports (PIR) shareholders have been through a painful quarter. Stock in the company have dropped over 40% in the last 90 days.

That got worse today. PIR said its same-store sales for the second quarter fell 1.7 percent.

Pier 1 CEO Alex Smith has not participated in too much of the company’s pain. He made a base salary of $1 million last year and got a $750,000 bonus. His total compensation was over $7.7 million. Mr. Smith even got a car allowance of over $19,000.

Pier 1 has lost over $300 million in market cap in a few short months, about half the company’s total value. Mr. Smith probably has not taken a 50% pay cut.

Douglas A. McIntyre

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