Though Mr. Smith, who has helmed CHS since 1997, will no longer be CEO, he’ll still serve as executive chair of the board of directors. He’ll earn $1 million per year in that role, according to the Nashville Business Journal, which cited filings with the Securities and Exchange Commission.
Mr. Smith’s base salary was $1.6 million last year, but his compensation totaled more than $8 million after adding in bonuses and stock options, according to the report.
Mr. Hingtgen, who served the last four years as president and COO of CHS, will have a base salary of $1.2 million once he steps into the CEO role, according to the report. He was paid $1 million as the company’s COO.
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