In Dairy Industry Consolidation, Lush Paydays
Gregg L. Engles, the pioneer of America's dairy consolidation, is stepping down as the CEO of Dean Foods, whose brands include the big names of Garelick Farms, Land O Lakes and Horizon Organic.
These days, however, as he prepares to step aside as chief executive of Dean Foods, Mr. Engles, 55, is perhaps better known for his paychecks, which continued to be hugely generous even as his company’s fortunes tumbled.
The Motley Fool noted in March that he had averaged $20.4 million in compensation over the previous six years, while Dean’s stock fell 11 percent a year, on average. Forbes ranked him among its Worst Bosses for the Buck in 2011.
Photo by Wade Rackley for The New York Times