Welcome to JSA Consultancy Services

A business consultancy, based in London, England, John Sacks' JSA Consultancy Services provides expert, in-depth, information advice and guidance as to how to exploit successfully the office furniture and interiors markets in Europe, North America, Australasia and Japan.

Knoll Executives Reap Huge Cash Bonuses

Tuesday 10 February 2009

Job cuts, layoffs, firings, reduced salary, all part of today\'s office furniture manufacturing landscape. That landscape doesn\'t however seem to extend to Knoll, a manufacturer that appears to be gaining marketshare as the other companies lose it. In a filing with the SEC Tuesday, the Compensation Committee of Knoll and their Board of Directors, approved and authorized payment of huge cash bonuses to their executives.
Reaping the largest bonus was CEO Andrew B. Cogan, netting a nice $1.25 million. Cogan was followed by Lynn M. Utter, Knoll\'s newest President and COO (North America), who pocketed a cool $500 thousand. Barry McCabe, Executive VP and CFO took home $400 thousand while Stephen Grover, the company\'s Executive VP of Operations received $300 thousand. Art Graves, the Executive VP and President of Sales and Distribution, got $400 thousand.

Many high-ranking, high-profile executives have foregone bonuses this year as an exercise in public penance. Executives and workers at Herman Miller and Steelcase (among others) are taking double digit reduced salaries this year, with greatly reduced bonuses. Knoll\'s huge bonus payout is particularly surprising considering the company, while profitable, just announced a 2 percent decrease in sales for the current quarter. (MMQB 2009)

Subscribe to our News Page

Enter your email here and we will tell you when this page is updated.

 

 

moreLatest News

Thursday 31 August 2017 Chinese furniture supplier to create 122 new jobs, invest $4.9M in West Michigan

GRAND RAPIDS, MI - A Chinese company that makes office furniture components is planning to build a n

Tuesday 15 August 2017 HON office furniture invests $14.5 million in expansion, creates 60 jobs

CEDARTOWN, Ga. - Office furniture manufacturer HON Company will invest $14.5 million in an expansion

Wednesday 9 August 2017 Martela Corporation Half Year Financial Report 1 Jan - 30 June 2017

The January-June 2017 revenue and operating result declined from the comparison period. Decline in r

Wednesday 9 August 2017 Former Herman Miller CEO Max De Pree dies at 92

Known as an accomplished author, businessman and man of Christian faith, De Pree served as CEO for t

Contact Us

JSA Consultancy Services
4-5 Gray’s Inn Square, Gray’s Inn,
London, WC1R 5AH, England


+44 (0) 20 7670 1510