Jeld-Wen’s Former CEO Saw Slight Compensation Increase For 2017

Jeld-Wen Holding Inc.’s former president and chief executive officer saw a slight increase in total compensation for the 2017 fiscal year due to an increase in salary and option awards, according to a filing with the Securities and Exchange Commission.

Mark Beck’s base salary increased from $850,000 in 2016 to $870,192 in 2017. Additionally, Beck’s option awards rose from $962,476 to $2,242,439.

Overall, his total compensation rose from $5.57 million to $5.62 million.

Beck suddenly departed the company on Feb. 27 by “mutual agreement,” according to a company announcement.

Chief Financial Officer Brooks Mallard also saw a rise in compensation for 2017, increasing from $1.5 million to $1.8 million, due to an increase in base salary and options awards.

The rise in compensation comes off the heels of decent revenue growth for the company. Net revenues for the 12 months ended Dec. 31, 2017, increased $97.1 million, or 2.6 percent, to $3.764 billion, compared to $3.667 billion in 2016.

Net income, however, decreased $366.4 million to $10.8 million in 2017, compared to $377.2 million in 2016.

Jeld-Wen’s annual meeting will be Thursday, April 26, at 8 a.m. at the company’s headquarters located at 2645 Silver Crescent Drive in Charlotte.

The company’s shares were $32.34 Friday afternoon, down 1.37 percent.

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