Execs at JTH Holding, the parent of Liberty Tax Service, lost out big on incentive pay. But they more than made up for it as the company awarded double-digit increase in salary for the year ended April 30. For CEO John Hewitt, the result was a 33-percent increase in compensation for fiscal 2013.
Hewitt had $640,460 in total compensation for the most recently ended up year, up 33 percent from $619,791 a year earlier. His non-equity incentive compensation was $316,045, off 40 percent from $187,600 a year earlier. However, the company raised his salary to $417,025, an increase of 49.2 percent from $299,619
The story was the same for other named executives, CFO Mark Baumgartner and chief counsel James Wheaton – the drop in incentive compensation was more than offset by salary increases. The higher salaries also give them a chance for increase incentive pay as rewards are generally calculated as a percent of base salaries.
Meanwhile, the company noted that COO Rufe Vanderpool had resigned on October 7. He made $319,785 in fiscal 2013, down from $585,535 in 2012.
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards. Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that. A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
