Diamond Foods offering retention payment to some of its senior executives; payment based on executive's annual salary, will be paid out equally in cash and restricted stock

Nevin Barich

LOS ANGELES , February 24, 2012 (Industry Intelligence) – Less than three weeks after removing its CEO and CFO, Diamond Foods Inc. offered a retention payment to some of its senior executives, Reuters reported Feb. 24.

According to a filing with the U.S. Securities and Exchange Commission, Chief Sales Officer Lloyd Johnson, marketing chief Andrew Burke, senior vice president Stephen Kim and Corporate Strategy SVP Linda Segre are eligible to receive the retention payment.

The company said that the payment is based on the executive's annual salary, and will be paid out equally in cash and restricted stock to executives who take part in the plan.

The primary source of this article is Reuters, London, England, on Feb. 24, 2012.

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